Table of Contents:
Bitcoin Supply on Exchanges Hits Six-Year Low Amid Public Company Accumulation
According to Cointelegraph, Bitcoin reserves on cryptocurrency exchanges have dropped to their lowest level since November 2018, with the supply now at roughly 2.6 million BTC. This decline is attributed to significant purchases by publicly traded companies, particularly following the US presidential election. Over 425,000 BTC have moved off exchanges since November, a trend often interpreted as a sign of long-term investment rather than short-term trading.
Fidelity Digital Assets, a subsidiary of Fidelity Investments, reported that nearly 350,000 BTC have been acquired by publicly traded companies during this period. The majority of these purchases have been driven by Strategy, the business intelligence firm co-founded by Michael Saylor, which has acquired 285,980 BTC since November—accounting for 81% of the total bought by public companies. Strategy’s latest purchase of 6,556 BTC was disclosed on April 21. In Asia, companies like Japan’s Metaplanet and Hong Kong’s HK Asia Holdings are also increasing their Bitcoin allocations, with Metaplanet currently holding 5,000 BTC and aiming to double that amount this year. HK Asia Holdings has announced plans to raise approximately $8.35 million to potentially increase its Bitcoin reserves.
| Metric | Value |
|---|---|
| BTC on exchanges | 2.6 million |
| BTC moved off exchanges since Nov | 425,000+ |
| BTC acquired by public companies since Nov | 350,000 |
| Strategy BTC acquisition since Nov | 285,980 |
| Metaplanet BTC holdings | 5,000 |
| HK Asia Holdings fundraising | $8.35 million |
Summary: Public companies are accelerating Bitcoin accumulation, driving exchange reserves to a six-year low. Strategy leads with 285,980 BTC purchased since November, while Asian firms are also increasing their holdings. (Source: Cointelegraph)
GE Vernova, AT&T, and Bitcoin: Market Highlights
Yahoo Finance reports that GE Vernova (GEV) has reaffirmed its full-year sales outlook of $36–$37 billion, despite a $300–$400 million impact from tariffs. The company posted a first-quarter profit of $264 million, reversing a $106 million loss from the previous year, and revenue rose by 11% to over $8 billion, surpassing estimates. The order backlog increased by $4.4 billion, and shares are up about 6%.
AT&T also saw strong customer gains, adding 324,000 mobile phone customers in the first quarter, exceeding Wall Street projections of just under 254,000. The company is rolling out a $20 billion multi-year buyback, with $3 billion starting in the second quarter, $7 billion through 2026, and $10 billion in 2027.
Bitcoin is trading above $90,000, marking its third consecutive day of gains and boosting crypto-related stocks such as Coinbase, Strategy, Marathon, and Robinhood. Bitcoin is up about 1.7% over a 24-hour period, maintaining momentum above the $90,000 level.
| Company/Asset | Key Data |
|---|---|
| GE Vernova | Q1 profit: $264M; Revenue: $8B (+11%); Sales outlook: $36–$37B; Tariff impact: $300–$400M; Order backlog: +$4.4B; Shares: +6% |
| AT&T | Q1 mobile adds: 324,000 (vs. 254,000 est.); Buyback: $20B ($3B in Q2, $7B through 2026, $10B in 2027) |
| Bitcoin | Price: >$90,000; 1.7% gain in 24h |
Summary: GE Vernova and AT&T both exceeded expectations in Q1, while Bitcoin’s rally above $90,000 is lifting related stocks. (Source: Yahoo Finance)
Swiss Central Bank Urged to Hold Bitcoin
Reuters reports that cryptocurrency campaigners are calling for the Swiss central bank to hold Bitcoin. The article highlights ongoing advocacy efforts but does not provide specific figures or outcomes regarding the central bank’s response or any planned actions.
Summary: Activists are pushing for the Swiss central bank to add Bitcoin to its reserves, reflecting growing institutional interest in the cryptocurrency. (Source: Reuters)
Jack Dorsey Teases Major Updates for Block’s Bitkey Bitcoin Wallet
The Daily Hodl reveals that Jack Dorsey’s fintech firm Block is preparing to launch several new features for its self-custody Bitcoin wallet, Bitkey, in the coming months. Dorsey announced on X that upcoming features include transaction verification, fingerprint reset, private wallet balances, and private purchasing. Max Guise, Bitkey’s lead developer, stated that transaction-verification software will roll out by mid-year, with a secure fingerprint reset mechanism planned for May.
- Transaction verification feature to be released by mid-year
- Secure fingerprint reset mechanism shipping in May
- Private wallet balances and private purchasing features expected soon after
- Option to buy Bitkey without disclosing home address, including in-person pickup and Bitcoin payment
Summary: Block’s Bitkey wallet will soon offer enhanced security and privacy features, including transaction verification and private purchasing options. (Source: The Daily Hodl)
Bitcoin Surges Past $90,000; Ripple and XRP Developments
TheStreet reports that Bitcoin has surpassed the $90,000 mark, a significant psychological milestone. Analysts are watching the $88,000 support zone for sustainability. Gold is also at an all-time high amid US-China geopolitical tensions. On April 21, Coinbase Derivatives launched two XRP futures products, approved by the CFTC, with contracts benchmarked to the MarketVector Coinbase XRP Index.
Ripple’s RLUSD stablecoin, operating on both XRPL and Ethereum, is now integrated into Aave V3 on Ethereum. RLUSD has a $50 million supply, $5 million available for borrowing, and a $294 million market cap since its December launch. MicroStrategy acquired 6,556 more BTC (worth ~$555.8 million at current prices) at an average price of $84,770, now holding 2.7% of the entire Bitcoin supply, which represents 77% of all BTC held by public companies.
| Asset/Project | Key Data |
|---|---|
| Bitcoin | Price: >$90,000; Support: $88,000; MicroStrategy purchase: 6,556 BTC (~$555.8M at $84,770 avg.) |
| RLUSD (Ripple stablecoin) | Supply: $50M; Borrowing: $5M; Market cap: $294M |
| MicroStrategy | Owns 2.7% of all BTC; 77% of BTC held by public companies |
Summary: Bitcoin’s rally above $90,000 is accompanied by new XRP futures and Ripple’s growing stablecoin ecosystem. MicroStrategy continues to lead public company Bitcoin holdings. (Source: TheStreet)
Bitcoin Lags in Developer Activity but Remains a Strong Investment
The Motley Fool highlights that while Bitcoin is the largest cryptocurrency by market cap ($1.85 trillion as of April 24), it significantly lags behind other major cryptocurrencies in terms of developer activity. Data from Santiment and CoinMarketCap show that Bitcoin underperforms in developer activity compared to Ethereum, Solana, and Cardano. Despite this, Bitcoin remains the best-performing coin of the group over the last three years.
The article explains that Bitcoin’s value is not derived from a vibrant ecosystem of decentralized applications, but from its supply dynamics—specifically, its capped supply of 21 million coins and increasing mining difficulty. The lack of developer activity is seen as a positive, as Bitcoin’s value proposition is based on scarcity and security rather than ecosystem growth.
"Bitcoin is the best-performing coin of this group over the last three years, and it isn't a close race." (The Motley Fool)
Summary: Despite low developer activity, Bitcoin’s unique supply dynamics and performance make it a compelling long-term investment. (Source: The Motley Fool)
Sources:
- Bitcoin supply on exchanges is falling ‘due to public company purchases’ — Fidelity
- GE Vernova & AT&T outlook, bitcoin & crypto gains: Trending Tickers
- Cryptocurrency campaigners call for Swiss central bank to hold bitcoin
- Billionaire Jack Dorsey Says ‘A Lot Coming’ to Block’s Self-Custody Bitcoin Wallet Next Month
- Bitcoin smashes past $90K while XRP futures and Ripple’s stablecoin make waves
- Bitcoin Performs the Worst By Far Among All Major Cryptocurrencies on This 1 Metric. Here's Why It's Still a Buy.
