According to Matthew Siegel, the company's head of digital asset research, financial giant VanEck is actively buying Bitcoin (BTC).
In a recent interview with CNBC, Siegel highlighted that several significant sellers have lowered the price of Bitcoin.
“The German government has sold off its entire Bitcoin, amounting to $2 billion. The US government is also selling tokens related to the Silk Road case. In addition, creditors from two major bankruptcies, Mt. Gox and Genesis, were recently paid,” Siegel explained.
He noted that despite this sales pressure, Bitcoin often faces a seasonal pattern where it struggles for one to three months after the halving event that occurred in April.
Siegel also pointed out that as the market adjusts to the results of the upcoming election, there is an expectation of continued reckless fiscal policy for another four years. Historically, this is the point at which Bitcoin tends to gain momentum.
“At this point, we are buyers. We believe it will recover,” he added.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.