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Exchange traded funds (ETFs), governments and MicroStrategy (MSTR) own nearly a 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, founder and chief executive of 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.”
Young Ju also discussed the importance of MicroStrategy’s BTC holdings.
“Different forms of money require different gateways.
Bitcoiners should recognize MSTR as a gateway that connects Nasdaq-100 money to Bitcoin.
I don’t understand why some Bitcoiners don’t like MSTR. They may express concerns about self-custody, but very few people actually practice self-custody – just as few care about data breaches. MSTR’s Bitcoin banking model fits well with current adoption levels.
If the gateway’s active fund management makes it possible to acquire a significant amount of Bitcoin with relatively little capital, that is success…
