Recent data from CoinGlass shows $BTC exchange reserves near multi-year lows, with about 2.46 million BTC currently held on trading platforms.
At the same time, companies such as Strategy continue to increase their holdings. The firm now holds roughly 738,731 BTC, representing around 3.5% of the circulating supply, after adding more coins in recent purchases.
Supporters see institutional accumulation as a sign of long-term confidence, while critics — including Peter Schiff — have raised concerns about the company’s funding strategy.
The situation highlights the ongoing debate around institutional participation in Bitcoin and its potential impact on market liquidity.