SimonaD
Bitcoin accumulation on Coinbase
The Bitcoin reserve of the Coinbase exchange experienced a significant decrease starting May 2022 and accelerated as the Bitcoin price underwent corrections or stagnated due to lack of volatility. The decrease in the reserves of an exchange takes place when we have large outflows of BTC from the exchange. This leads us to think that investors are optimistic about the future of Bitcoin or that investors are concerned about possible regulations and they prefer to store their Bitcoin in self-custody. Whatever the reason, they believe in Bitcoin as a store of value and this is very important for the future and progress of Bitcoin. The BTC reserve on the Coinbase exchange is currently at the level of 468,102 BTC available, a decrease of approximately 40% since May 2022. Taking into account the level of outflows and the decrease in the Bitcoin reserve, we can consider that the accumulation of Bitcoin has been relatively constant on the Coinbase exchange from May 2022 until now, which can only be positive for Bitcoin.