Institutions are continuing to buy Bitcoin even as prices are going up! Microstrategy bought 4,176 BTC while Luna Foundation Guard bought 5,773 BTC this last week. So nearly 10,000 BTC is going into long term HODL!

Microstrategy has apparently recently revealed that they have bought a further 4176 BTC to bring their total hodlings to a stupendous 129,218 BTC. I have to check if I even have that many Sats. They didnt buy em super cheap either — they paid an average of ~45k per bitcoin. Still lower than their average price of $46,742 per BTC.

https://www.coindesk.com/business/2022/04/05/microstrategy-buys-1905m-worth-of-bitcoin/

Then theres Luna Foundation Guard (LFG) who are still on their crusade to buy $10 billion of BTC to use as a backstop for UST. They bought even more — 5,773 in BTC over 2-3 days last week. This brings LFG's total to 30,728 BTC that is worth somewhere around $1.5 billion. Given that their target is $10 billion of BTC they are only 15% done

https://www.coindesk.com/markets/2022/03/30/bitcoin-holds-steady-as-luna-foundation-guard-slows-purchases/?outputType=amp

Between these 2 purchases thats nearly 10,000 BTCs locked up for long term hodling. If thats not bullish idk what is!