A significant portion of all known Bitcoin is now held by a few key players. According to CryptoQuant CEO Ki Young Ju, exchange-traded funds (ETFs), governments, and MicroStrategy (MSTR) together own about 31% of all known Bitcoin.
A Massive Increase in Institutional Holdings
This represents a huge jump – a 14% increase since December 2023. This means these institutions have significantly increased their Bitcoin holdings in a short period.
MicroStrategy: Bitcoin’s Gateway?
Ju also highlighted MicroStrategy’s role in the Bitcoin market. He sees the company as a crucial bridge, connecting traditional markets (like the Nasdaq-100) to the Bitcoin market. He argued that while some Bitcoin enthusiasts criticize MicroStrategy’s approach, its model aligns with the current level of Bitcoin adoption. He compared it to using a bank to increase your Bitcoin holdings, acknowledging the inherent risks involved.
Current Bitcoin Price and Market Conditions
At the time of writing, Bitcoin is trading around $93,895, down slightly (about 2%) over the past 24 hours.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in anything, especially high-risk assets like cryptocurrencies.
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