Exchange-traded funds (ETFs), governments, and MicroStrategy (MSTR) now control nearly 31% of all known Bitcoin (BTC) holdings. This impressive figure marks a 14% increase from December 2023, according to Ki Young Ju, founder and CEO of the digital asset analytics firm CryptoQuant. In his update, Ju stated, “Bitcoin Cap Table Update: ETFs, governments, and MSTR now account for 31% of all known Bitcoin holdings, up from 14% last year.”
Ju also underscored the significant role of MicroStrategy’s BTC acquisitions. He mentioned, “Different forms of money require distinct gateways. Bitcoiners should recognize MSTR as a gateway bridging Nasdaq-100 money to Bitcoin.” He went on to express confusion over why some in the Bitcoin community disapprove of MicroStrategy, suggesting that such hesitations stem from concerns about self-custody. Ju clarified that, “very few people actually practice self-custody—just as only a few care about privacy breaches.” He further articulated that MicroStrategy’s approach aligns well with current adoption levels, noting, “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.”
It’s important to recognize the inherent risks associated with trusting organizations like MicroStrategy. Ju thoughtfully remarked that engaging with them is akin to “entrusting funds to a bank with the goal of gaining more Bitcoin, using Bitcoin itself as the form of money.”
Currently, Bitcoin is trading at $93,895, experiencing a slight dip of nearly 2% within the last 24 hours.
Stay updated by subscribing for email alerts directly in your inbox.
Engage with us on X, Facebook, and Telegram.
A quick but vital reminder: While we share insights, these opinions aren’t investment advice. Always conduct your due diligence before making any high-risk investment decisions in Bitcoin, cryptocurrency, or digital assets. Remember, your transfers and trades are made at your own risk, and you’re responsible for any losses incurred. We do not recommend buying or selling cryptocurrencies or digital assets, and we are not investment advisors. Please be aware that we participate in affiliate marketing.
