There's been some very large Institutional Buys over the last week, and it's probably not MSTR...

MicroStrategy has been the largest bitcoin buyer over the last couple months, that we know about anyways.

In total, MSTR purchased close to $3 billion worth of bitcoin.

Then of course, we had TSLA come in with a $1.5 billion purchase, and we had SQ add another $200 million worth.

These large purchases are what helped spur the run to our recent highs around $58k.

Well, not it appears others are getting involved as well...

Looking at the data from Coinbase Pro, we can see some very large buy orders and transfers have happened off the platform and into cold storage in the last week or so.

Check it out:

(Source: https://twitter.com/ki_young_ju/status/1366984863127986180/photo/1)

The reason we know this isn't Michael Saylor is because they just completed a billion dollar purchase the week before, and then bought another $15 million worth the other day.

https://hive.blog/hive-167922/@jrcornel/microstrategy-buys-another-usd15-million-worth-of-bitcoin

Neither of those amounts reflect the transfers we are seeing on the above chart...

Which is why I am speculating that it's probably someone new.

Who might that new investor be?

Tim Draper thinks it could be Netflix, though I am not so sure.

I think TWTR or PayPal will be the next major corporation to invest in Bitcoin.

What say you?

Stay informed my friends.

-Doc