We have seen an explosion of the number of Bitcoin Treasury companies. 💥 Essentially, every day we see announcements of new Bitcoin buys by these companies.📈 You may get the impression that they are scooping up 100s of thousands of Bitcoin. The reality is that many of these buys are still comparably small (big attention effect, comparably small market effect). Roughly 260k have been added by the entities @BTCtreasuries is tracking since a bit more than two months ago (May 24). That is a significant amount. However, on the other side, we have also seen old coins becoming active again over the last few weeks (old coins changing hands to new entities). The latest is the 80k BTC. That Bitcoin's price is not higher yet is most likely due to supply and demand dynamics, rather than some conspiracy involving paper Bitcoin. But slowly more and more Bitcoin are being absorbed by entities with no intention to sell anytime soon. 🙌💎 Good things take time. 🕰️(Dr. Jan Wüstenfeld)