Here’s Who’s Expanding their Bitcoin Holdings this Crypto Winter

Sahana Kiran
Source – Unsplash

Bitcoin [BTC] and an array of other cryptocurrencies are currently in the bear’s court. With losses etched all over the market, the majority of new investors were exiting the market. Both BTC’s price and the market cap shrunk as it succumbed to panic selling. The world’s largest cryptocurrency failed to garner significant support at $20K. As a result, time and again, BTC dropped down to $19K and sometimes even lower.

While this certainly washed out many from the crypto market, a few others continue to view the current market condition as a favorable one. At press time, BTC was trading for $19,676 with a 2 percent daily drop. Even during what is considered one of Bitcoin’s lowest points, several wanted to bag some. It should be noted that BTC is currently 71 percent below its all-time high of $68,789.

Here’s a list of Bitcoin bulls who made the most of the ongoing bearish market

El Salvador

El Salvador has undoubtedly been one of the most bullish governments on cryptocurrencies. From giving Bitcoin a legal stature to mining BTC with volcanoes, El Salvador’s interest in expanding its holding was foreseen. Earlier today, Nayib Bukele the Presiden of El Salvador announced that the government had purchased 80 more Bitcoins.

The Salvadorian government went on to spend a total of $1.5 million on its latest Bitcoin purchase. Furthermore, it brought to light that the government currently holds 2,381 Bitcoins at an average price of $43,000.

Additionally, El Salvador has purchased BTC each time the market has collapsed, and sometimes even when the market is doing just fine. The country’s latest acquisition is its eleventh purchase.


Michael Saylor and his inclination towards Bitcoin is no news. The Microstrategy CEO has not only endorsed BTC but has also invested a significant amount of his funds in it. After suggesting that the present market condition was an ideal entry point to bag some king coins, he went on to load up on 480 BTC.

The firm went on to purchase 480 Bitcoins for around $10 million at an average price of $20,817 per coin. Following its latest purchase, Saylor’s firm expanded its Bitcoin holding. As of 28th June 2022, Microstrategy reportedly entailed 129,699 BTC.

BlockFi’s Zac Prince

While it’s very common for institutional investors to pour their money into BTC despite its downtrend, retail investors usually stay back. Prominent crypto platform, BlockFi’s CEO Zac Price went on to pocket more Bitcoin while the asset sunk.

In a recent Twitter post, Price affirmed that he had purchased a total of 0.25 BTC for 4,795.7 GUSD.

BlockFi has been making a lot of news lately. From its deal with FTX and its license in Iowa, the platform has been under the crypto spotlight.

Binance.US’s Brian Shroder

Proving to be a real Bitcoin bull, Brian Shroder, the CEO of Binance.US revealed that he had purchased BTC this year. Not only when BTC sunk below $20K but also when it was trading for $29K.

In a recent interview, Shroder said,

“I continue to buy, I’m continuing my personal investment journey, and obviously I personally and professionally believe in crypto long [term].”

While the details of the purchase are unknown, Shroder is likely to expand his holding further.