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Nearly one third of Bitcoin (BTC), as measured by the known holdings, is owned by exchange-traded fund (ETF) holders, governments and MicroStrategy.
According to Ki Young Ju (founder and CEO of digital asset analytics company CryptoQuant), the 31% known BTC held by ETFs and governments, as well as MicroStrategy, represents an increase of 14% from December 2023.
Young Ju discussed MicroStrategy BTC’s importance.
Bitcoiners will recognize MSTR, a bridge that connects Nasdaq 100 money with Bitcoin.
Why do some bitcoiners hate MSTR? Some Bitcoiners may raise questions about the self-custody of their coins, but few actually do it. MSTR’s Bitcoin Bank model is in line with current adoption levels.
A Bitcoin bank is successful if the active management of the fund allows a large amount of Bitcoin to be acquired with a relatively small capital.
There is always a risk, but one can view this as trusting money to a financial institution with the aim of getting more Bitcoins, and using Bitcoin as currency.”
Bitcoin was trading at $93,895 as of the time this article is written. Market cap-based ranking of the top crypto assets has dropped nearly 2% over the last 24 hours.
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Image Featured: Shutterstock/Don White/Art Dreamer/Vladimir Sazonov
This post, 31% of All Bitcoin Holdings Belongs to ETFs and Governments: CryptoQuant’s CEO could be updated as new information becomes available.
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