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International Business Times

Business

Marvie Basilan

'Permanent' Holders Amass Nearly $5B In Bitcoin Amid Market Panic Selling

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Bitcoin's downtrend in the past week has left many holders dumping alongside the German government, but a group of "permanent" holders have been busy amassing billions throughout the frenzy. (Credit: AFP)

KEY POINTS

'Permanent' holders of Bitcoin accumulated nearly $5 billion worth of the digital asset in the last 30 days
Spot Bitcoin ETFs have also started regrouping after bleeding millions in June
Optimism has started picking up after Bitcoin started the week in the green

A group of Bitcoin holders is grabbing the attention of cryptocurrency analysts: "permanent holders." They are not $BTC miners or digital asset exchanges. They're also not among the individuals and institutions who've dabbled into exchange-traded funds (ETFs), as per an industry expert, and yet they've already accumulated thousands of Bitcoins within a 30-day period.

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