Exchange-traded funds (ETFs), governments, and MicroStrategy (MSTR) collectively own approximately 31% of all known Bitcoin (BTC) holdings. This percentage represents a 14% increase from December 2023, according to CryptoQuant, a digital asset analytics firm founded and led by Ki Young Ju.

Ki Young Ju also emphasized the significance of MicroStrategy’s BTC holdings. He described MicroStrategy as a gateway that connects Nasdaq-100 money to Bitcoin. He expressed confusion regarding why some Bitcoin enthusiasts have a negative view of MicroStrategy. While some may have concerns about self-custody, the reality is that very few people actually practice self-custody or prioritize privacy breaches. MicroStrategy’s Bitcoin bank model aligns well with the current level of adoption. If the active fund management of this gateway allows for the acquisition of a significant amount of Bitcoin with relatively little capital, it demonstrates 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.

As of the time of writing, Bitcoin is trading at $93,895. It has experienced a decrease of nearly 2% in the past 24 hours, despite being the top-ranked cryptocurrency by market capitalization.

Please note that all opinions expressed in The Daily Hodl are not investment advice. Investors should thoroughly research and assess the risks before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. It is important to be aware that transfers and trades are done at one’s own risk, and any losses incurred are the individual’s responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and it is not an investment advisor. Additionally, The Daily Hodl may engage in affiliate marketing.

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