- Recently, Hong Kong ETFs bought at a record 605BTC
- Cumulative purchases for July total 1000BTC.
- Overall, total Bitcoin holdings are around 4000BTC
Hong Kong ETFs made a record purchase of 605 BTC. It is interesting to see how the major players behave differently in the market.
What Is the Big Picture?
We recently wrote about how Germany completely liquidated its Bitcoin holdings.
Shortly before that, Joana Cotar insisted that this sell-off should be stopped urgently, citing Trump’s words that other leading countries around the world see Bitcoin as a strategic and reserve asset.
Well, the systematic buying of Bitcoin by US ETFs and Hong Kong ETFs may indicate that.
Hong Kong ETFs purchased a record 605 BTC and a cumulative 1,000 BTC during July. Now, Hong Kong ETF cumulative holding is ~4000 BTC, more than the recent German Bitcoin Holdings.
These are significant if we see a scenario where Bitcoin becomes a reserve currency with or even in place of the USD. And what’s more, it looks like Hong Kong isn’t going to stop buying, showing such systematic and record-breaking purchases.
Let’s keep a close eye on the flow of capital between the major forces in modern economics and politics.
