Some “fat cats” may be taking advantage of the market’s increasing concern of assaults from the U.S. SEC to boost their Bitcoin (BTC) holdings. Even individuals who do not directly possess Bitcoin (BTC) may see how fiercely positive they have been in recent months.
$10 trillion asset manager and top banks are betting big on Bitcoin (BTC)
Blue-chip financial institutions and businesses are putting more money on Bitcoin (BTC) by buying MicroStrategy (MSTR) shares. They have just infused a significant amount of liquidity into MSTR, according to the Bitcoin Culture weekly.
Their authors monitored the conduct of Bank of America, BlackRock, and Fidelity, two venerable asset management companies, in relation to their exposure to MSTR, the largest corporate Bitcoin (BTC) holder.
MSTR shares often serve as a dependable proxy investment to acquire exposure to Bitcoin (BTC) price performance for organisations who are not interested (or constrained) in buying Bitcoin (BTC) directly.
Despite this, BlackRock and Fidelity rank among the top five holders of MSTR stock. According to CNN, Fidelity expanded its exposure to MSTR by more than seven times in recent months.
Through BofA Securities Inc., Bank of America boosted its MSTR stake as well. According to Bitcoin Culture, its stake size increased by more than 47,000%.
Largely, institutions are underwater at current Bitcoin (BTC) prices
The biggest Canadian banks and global investment platforms are also actively accumulating MSTR equities.
Institutions presently have 1,652,703 Bitcoins (BTC) in total, which is equal to 7.87% of its net supply, according to data from Bitcoin Treasuries, the most dependable tracker of BTC bags of publicly listed corporations, governments, and investment conglomerates.
The majority of the biggest Bitcoin (BTC) holdings on this list are now in the red, though. Only three of the top ten corporate Bitcoin holders—Bitcoin Group SE, Bigg Digital Assets, and Advanced Bitcoin Technologies AG—were able to make money from their BTC investments.
