CryptoQuant executive links rising Bitcoin hashrate to institutional backing

Bitcoin hashrate is rising as public mining firms return online, according to Cointelegraph. Ki Young Ju, the founder and chief executive officer of analytics platform CryptoQuant, stated on Thursday that the growing computational power represents an indirect bullish signal driven by traditional finance backing. [1][2][4][6]

Cointelegraph reported that public Bitcoin miners are largely supported by major traditional finance institutions. Ki stated on social media platform X that a higher network hashrate provides stronger security and better fundamental qualities for the network as a store of value. [1][2]

Separately, Bitcoin Magazine reported that a United States government wallet transferred approximately 1 billion dollars in Bitcoin linked to the Bitfinex hack. Miguel Morel, the chief executive officer of Arkham Intelligence, analyzed the transaction trails to assess whether the movement indicated potential asset sales, custody transfers, or reserve policy adjustments. [3]