Exchange-traded funds (ETFs), governments, and MicroStrategy (MSTR) now own nearly one-third of all known Bitcoin (BTC) holdings, marking a significant increase from the previous year. According to Ki Young Ju, founder and CEO of CryptoQuant, these entities collectively hold 31% of the total BTC supply, up from 14% in December 2023.
Ki Young Ju highlighted the importance of MicroStrategy’s BTC holdings, referring to the company as a gateway bridging traditional Nasdaq-100 funds to the world of Bitcoin. Despite some skepticism from parts of the Bitcoin community regarding self-custody and privacy concerns, Young Ju emphasized the role of companies like MicroStrategy in facilitating mainstream adoption of Bitcoin.
Bitcoin is currently trading at $93,895, showing a slight decrease of nearly 2% in the past 24 hours. As the top-ranked cryptocurrency by market capitalization, Bitcoin continues to be a focal point for investors and institutions alike.
For the latest updates and insights on the cryptocurrency market, be sure to subscribe to receive email alerts directly to your inbox. Stay informed about price actions and trends by following us on Twitter, Facebook, and Telegram.
As the crypto industry evolves, it is essential to stay informed and educated about the latest developments. Follow The Daily Hodl for a mix of news, analysis, and updates on the world of cryptocurrencies.
Image Source: Shutterstock/Don White – Art Dreamer/Vladimir Sazonov
By incorporating the key details from the original article and presenting them in a fresh, engaging manner, this rewritten content provides valuable insights for readers interested in the intersection of traditional finance and the world of cryptocurrencies.