Bitcoin Supply Shrinks, Market Bulls Roar
The total number of coins held in the exchange
Source: CryptoQuant
According to Wu Blockchain, Bitcoin mining company Marathon Digital has announced the completion of the issuance of 2.125% convertible senior notes maturing in 2031, with a total principal amount of $300 million sold. Marathon also stated that between August 12, 2024, and August 14, 2024, it used approximately $249 million in cash from the sale of the notes to purchase about 4,144 Bitcoins at an average price of $59,500.
Recent data shows that #BTC exchange reserves have dropped to their lowest levels since 2018, significantly declining since the beginning of the year. 📉
With the available supply decreasing, this is a strong bullish signal, reflecting growing investor confidence in Bitcoin's future.
The market is changing, and it’s time to reassess and consider a more aggressive investment strategy for BTC! 💡
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