Here’s why Institutions are slowly losing confidence in Bitcoin

Over the last several months, a common narrative that has been forced into the minds of almost every crypto investor is the idea that institutional investors are rushing to buy up all of Bitcoin’s supply.

MicroStrategy Dumping Bitcoin

Michael Saylor may be respected in the crypto community by many, but he has a very shady past and is an overall deceptive CEO.

Michael Saylor on Bitcoin

In 2020, Michael Saylor became one of the first CEOs to fully endorse Bitcoin, and convert a large portion of his cash reserves into Bitcoin.

Microstrategy Will Now Pay Board of Directors in Bitcoin

MicroStrategy recently filed a form with the U.S. Securities and Exchange Commission (SEC) stating that its Board of Directors has “modified the compensation arrangements for non-employee directors.” The filing explains, “Going forward, non-employee directors will receive all fees for their service on the company’s Board in bitcoin instead of cash,”

Tesla selling large amounts of Bitcoin

Tesla’s earnings report highlighted something many Bitcoin investors weren’t prepared for. That they sold roughly $272 million worth of their BTC holdings that they had just accumulated months prior.

Grayscale Demand Faltering

Over the last few months, Grayscale premiums have flipped negative, they haven’t seen an increase in new clients, and they sold over $60 million worth of Bitcoin.

What’s Causing Bitcoin’s Price Rise?

Bitcoin’s price rise is predominately attributed to Tether, which has been illegally printing billions in unbacked Tether, transferring it to exchanges, then buying up assets to boost the prices.

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Crypto Analyst. Trading Crypto Since 2013. Follow for an Unbiased & Contrarian Perspective on the Stock & Crypto Markets!

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