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Bitcoin Is Receiving Equivalent of Capital Flows Gained in 2017, Crypto Expert Says

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Tue, 12/29/2020 - 13:32
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Yuri Molchan
Crypto expert Willy Woo has shared some recent analytics data to show that Bitcoin is being fueled by funds as much as back in 2017
Bitcoin Is Receiving Equivalent of Capital Flows Gained in 2017, Crypto Expert Says
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Crypto trader and entrepreneur Willy Woo has shared some data from Glassnode and Coinmetrics to show that Bitcoin currently sees a massive inflow of funds on the market.

"Bitcoin capital inflows growing like in April 2017"

In his recent tweet, crypto expert Willy Woo has shared data stating that the amount of capital now rushing into Bitcoin is similar to that seen three years ago, in April 2017, the same year that the bull run for BTC started and the flagship crypto hit its first massive peak of nearly $20,000.

Willy Woo has posted a Glassnode chart of Bitcoin-realized capitalization that shows the amount of funds users have invested in BTC.

BTC
Image via Twitter

$170 billion allocated in Bitcoin

In another tweet in the thread, Woo detailed the amount of funds that have been allocated into Bitcoin this year.

A total of $15 billion were converted into Bitcoin as investors were accumulating between the Black Thursday (March 12) and October, when BTC began rallying higher than $11,400.

Meanwhile, $50 billion have been invested since the October rally began. Among many investors, the largest were institutions Grayscale and MicroStrategyspearheaded by Michael Saylor.

Related
Grayscale Now Holds $19 Billion in Crypto AUM, Barry Silbert Tweets

MicroStrategy CEO named the "Most Interesting Newcomer" by Forbes

The other day, Forbes announced that the head of MicroStrategy, Michael Saylor, was the "Most Interesting Newcomer" in the crypto sphere.

The article stated that he is the most surprising newcomer to the industry and made the biggest impact on Bitcoiners.

As a reminder, Michael Saylor's company first acquired $475 million worth of Bitcoin (in several goes), and then the company raised another $650 million via shares and purchased another BTC stash.

Overall, the company allocated more than a billion USD into Bitcoin.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.