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▲ Bitcoin (BTC)/ChatGPT generated image
Bitcoin (BTC) is rapidly shedding its initial image as a speculative asset for individual investors and is being reshaped into a strategic asset that corporations, asset managers, and financial institutions are competitively acquiring.
Bitcoinist reported on May 13 (local time), citing analysis from On-Chain Mind, that institution-held Bitcoin has reached 3.24 million BTC, with the value of this amount estimated at approximately $261.2 billion based on current prices. On-Chain Mind explained that the volume held by institutions is nearly equivalent to the total amount of newly issued Bitcoin over the past 20 years.
Among institution-held Bitcoin, Bitcoin spot ETFs accounted for the largest share. Bitcoin spot ETFs held approximately 1.39 million BTC, representing 42.9% of the total institutional holdings, while corporate holdings amounted to 1.23 million BTC, or 38.0%. National holdings exceeded 19.1% of the total, with approximately 619,500 BTC.
On-Chain Mind projected that the scale of Bitcoin accumulation by institutions would further increase in the future. Considering that Bitcoin's proportion in institutional portfolios was virtually non-existent in the past, the recent pace of accumulation suggests that Bitcoin is moving from being a mere risky asset to a reserve asset where a competition for holdings is taking place.
Santiment also stated that the accumulation trend among major holders has strengthened again. While Bitcoin's price maintained 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 evaluated that the scenario where large holders continue to buy while small holders hesitate is a favorable short-term condition for Bitcoin. In past cryptocurrency bull markets, the group holding between 10 BTC and 10,000 BTC played a significant role in price upswings that moved 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. The content should be interpreted for informational purposes only.*
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