Major Players and Institutions Scoop Up BTC

It’s hard to keep up with the headlines as each day more ETFs announce they are buying more Bitcoin. BlackRock spot Bitcoin ETF IBIT keeps buying Bitcoin and now owns over 351,500 BTC. Goldman Sachs announced they invested over $400 million in spot Bitcoin ETFs and ARKB just bought $51M worth of Bitcoin this week.

Image: Wix AI

Demand for Bitcoin is growing across the board in hedge funds, pensions, banks, and institutions. More than half of the top Investment Advisor groups have Bitcoin exposure. Sixty percent of the top U.S. hedge funds have Bitcoin exposure and a report by Bloomberg reveals more than 1,950 funds recently reported having ownership in Bitcoin ETFs. One of the major pension industry publications Pensions&Investments, just featured the Wisconsin Investment Board's addition of GBTC spot Bitcoin ETF to their balance sheet. This national visibility to pension fund managers is likely to lead to more pensions buying Bitcoin in the near future.

Even small businesses are understanding the value of Bitcoin. Great Australian Dental Holdings Co, a small dentist in Australia, announced this week they made 7 purchases this year and now HODL almost 1BTC. A Middle Eastern restaurant in Ontario @TheRealTahinis announced moving to a Bitcoin Standard was one of the best decisions they made 4 years ago, adding to their reserves each quarter. These may be micro moves, but with only 21M Bitcoin to be purchased worldwide, businesses are discovering even a small investment in Bitcoin can have a significant impact.

With all these companies and funds buying— who is selling? Some analysts surmise Germany, Mt. Gox and US Silk Road have been busy selling, but is there any left to sell? Some analysts claim if these big holders hadn’t liquidated their holdings, Bitcoin would be already close to $100,000.

It looks like the hourglass is about to get flipped. Without much Bitcoin sand left, I expect some camouflaged hunters will make some last minute grabs from the bushes. Who lies in wait?

“I should have appreciated it earlier.” — Warren Buffett (he was referring to Apple, of course)

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