We are talking about why this bax news is absolutely huge for bitcoin and for all of you holding bitcoin and kryptos out there. So if you want to find out exactly what it is and how awesomely it's going to impact you stay tuned for today's episode, Music, what's up guys, rambla here from crypto love. Thank you for watching today, happy friday, and today we are talking about insane backed news before we do that guys like the video. It helps me out so much subscribe click. The notification bell also join us over on patreon.com next saturday we're giving away another 500 of bitcoin to patrons. So this back news today, that is absolutely awesome for everybody in cryptocurrency right now is based on an article published by coin telegraph record high, backed bitcoin delivery, exposes institutional frenzy for bitcoin, backed recorded an all time, high bitcoin delivery in october, demonstrating a clear spike in Institutional demand for bitcoin now, when the volume of the backed bitcoin futures market increases, which physically settles bitcoin contracts, it typically demonstrates growth and institutional appetite for digital assets. So let's take a look at this graph right here. Okay back has been around since october of 2019. A year now and look at how this spike has grown, leading to an all time demand right now, which is absolutely huge up: 14, this month alone. Now what does that mean? Because that is massive, i mean over the past few months.
A lot of people have been very enthusiastic about cryptocurrency, but those are retail investors. This is institutional investors. This is big money. These are guys who come in and put in a lot of money to make off of mom and pop and grandma all the other people. So when these guys get in there, when these guys start putting their money in there guess what they want to make money on it and then get everybody else to make to lose their money or at least make a little bit of money. While they make a ton of money now, this should come as no surprise to a lot of you who pay attention to the news, because we know grayscale's been buying up a ton of bitcoin as a matter of fact, at the rate they were buying it back. In june they'll own 3.4 percent of all bitcoin by january that's, mind blowing one in 30. Bitcoin will be owned by grayscale, not only that but jack dorsey added 4 700 bitcoin to his balance sheet and other companies, like micro strategies, actually bought one out of every thousand bitcoin. They bought 21 454 bitcoin that's one in a thousand bitcoin owned by microstrategy one. In 30, owned by grayscale jack dorsey is buying a whole bunch too, so that doesn't leave many bitcoin available for anyone else. Cameron winklevoss is actually saying: bitcoin is on its way to becoming a corporate treasury asset. Michael saylor and jack are leading the charge soon.
Many other companies will follow and eventually central banks. This is just the beginning. I mean imagine back before i think was 1973. We had the dollar backed by gold. Imagine government currencies fiat currencies backed by bitcoin because get this. If everybody in the world started mining gold there would be more and more gold produced. If everybody in the world started mining, bitcoin, guess what the algorithm would slow down, it would become harder to mine and there would still only ever be 21 million bitcoin. This is a legit. The hardest money that's ever been created. Institutions are recognizing it and here's where it gets really good for me, for you and for everybody you've told about bitcoin because, like i said right now, record high backed interest in bitcoin record high back delivery. Okay, the highest it's ever been the highest recorded institutional buying of bitcoin. You know when it happened between september and october of this year and if we take a look at bitcoin's price, this is the lowest. It was between september and october of this year and look at that based on bitcoin's historical price, that's, pretty damn high. So as long as you didn't buy in at december of 2017 or june of 2019. Guess what you've pretty much bought the bottom, where all these other institutional investors are buying? This is not where they're going to be selling and making their money. This is where they're buying it, so they can later sell it to your mom, your dad and your grandma.
So that's the good news today from back to me, awesome news article for everybody out there from back. I hope you guys enjoyed that, like i said like the video subscribe click, the notification bell join us over at patreon.com crypto love.