to leave a comment.
▲ Bitcoin (BTC)/ChatGPT generated image
Bitcoin (BTC) is rapidly shedding its initial image as a speculative asset for individual investors and is being re-established as a strategic asset that corporations, asset managers, and financial institutions are competitively acquiring.
Bitcoinist reported on May 13 (local time), citing an analysis by On-Chain Mind, that the Bitcoin held by institutions has reached 3.24 million BTC, with the value of this amount being approximately $261.2 billion at current prices. On-Chain Mind explained that the institutional holdings are almost equivalent to the total amount of newly issued Bitcoin over the past 20 years.
Among institutional Bitcoin holdings, spot Bitcoin ETFs accounted for the largest share. Spot Bitcoin ETFs held approximately 1.39 million BTC, making up 42.9% of the total institutional holdings, while corporate holdings amounted to 1.23 million BTC, or 38.0%. National-level holdings exceeded 619,500 BTC, accounting for 19.1% of the total.
On-Chain Mind predicted that the scale of institutional Bitcoin accumulation will grow further in the future. Considering that Bitcoin's weighting in institutional portfolios was virtually non-existent in the past, the recent pace of accumulation shows that Bitcoin is shifting from a mere risky asset to a reserve asset for which there is a competitive race to hold.
Santiment also stated that the accumulation trend of major holders has strengthened again. While Bitcoin prices remained above $80,000 despite an unexpected Consumer Price Index (CPI) announcement, wallets holding between 10 BTC and 10,000 BTC additionally purchased over 16,622 BTC, increasing their holdings by 0.12%. In contrast, small wallets holding less than 0.01 BTC sold 28 BTC, reducing their holdings by 0.05%.
Bitcoinist assessed that the scenario where large holders continue to buy while small holders hesitate is a favorable condition for Bitcoin in the short term. In past cryptocurrency bull markets, the group holding between 10 BTC and 10,000 BTC played a major role in price appreciation phases, moving contrary to individual investor expectations, and this expansion of institutional accumulation is presented as a trend that further strengthens Bitcoin's market position.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.