# Richard Byworth Says Bitcoin Trading Resembles Nation-State Buying By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/40264 Published: 2026-10-24T19:29:18.000Z Updated: 2026-10-24T19:29:18.000Z Section: Investing > He said Bitcoin rebounded after reaching $60,000 and claimed nations were secretly buying an “enormous amount” of the asset. Richard Byworth said Bitcoin (BTC) repeatedly rebounding after reaching $60,000 looked like nation-state buying, a pattern he said did not appear to come from MicroStrategy or exchange-traded funds. “Every time we get back down to $60,000, we go straight back up,” Byworth said. He described the trading as something that “feels like a nation state.” Byworth also claimed nations were secretly buying an “enormous amount” of Bitcoin. The remarks extend [Byworth’s earlier view on a potential Bitcoin advance](), which tied a possible move higher to seller exhaustion. ## Links in this article - [Byworth’s earlier view on a potential Bitcoin advance](https://www.tokenpost.com/news/people/34893)