tl;dr
Approximately one-third of known Bitcoin holdings are owned by exchange-traded funds (ETFs), governments, and MicroStrategy (MSTR), marking a 14% increase from December 2023. Ki Young Ju, founder and CEO of CryptoQuant, provided this update, emphasizing the significance of MicroStrategy's Bitcoin ho...
Approximately one-third of known Bitcoin holdings are owned by exchange-traded funds (ETFs), governments, and MicroStrategy (MSTR), marking a 14% increase from December 2023. Ki Young Ju, founder and CEO of CryptoQuant, provided this update, emphasizing the significance of MicroStrategy's Bitcoin holdings as a gateway between traditional finance and Bitcoin. Bitcoin is currently trading at $93,895, down nearly 2% in the last 24 hours.
Exchange-traded funds (ETFs), governments, and MicroStrategy (MSTR) own nearly one-third of all known Bitcoin (BTC) holdings. The 31% of known BTC holdings owned by ETFs, governments, and MicroStrategy represents a 14% increase from December 2023, according to Ki Young Ju, the founder and chief executive of the digital asset analytics firm CryptoQuant.
"Bitcoin Cap Table Update: ETFs, governments, and MSTR now account for 31% of all known Bitcoin holdings, up from 14% last year." Image Source: Ki Young Ju
Ki Young Ju also discussed the importance of MicroStrategy’s BTC holdings. "Different forms of money require distinct gateways. Bitcoiners should recognize MSTR as a gateway bridging Nasdaq-100 money to Bitcoin. I don’t understand why some Bitcoiners dislike MSTR. They might raise concerns about self-custody, but very few people actually practice self-custody—just as only a few care about privacy breaches. MSTR’s Bitcoin bank model aligns well with the current adoption level. If the gateway’s active fund management enables the acquisition of a significant amount of Bitcoin with relatively little capital, that marks the success of a Bitcoin bank. Of course, there is always the risk of failure, so one should view it as entrusting funds to a bank with the goal of gaining more Bitcoin, using Bitcoin itself as the form of money." Bitcoin is trading at $93,895 at the time of writing. The top-ranked crypto asset by market cap is down nearly 2% in the past 24 hours.