31% of All Bitcoin Holdings Now Belong to ETFs, Governments and Microstrategy (MSTR): CryptoQuant CEO

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Exchange-traded funds (ETFs), governments and MicroStrategy (MSTR) own nearly one-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, the founder and chief executive of the 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 distinct gateways.

Bitcoiners should recognize MSTR as a gateway bridging Nasdaq-100 money to Bitcoin.

I don’t understand why some Bitcoiners dislike MSTR. They might raise concerns about self-custody, but very few people actually practice self-custody — just as only a few care about privacy breaches. MSTR’s Bitcoin bank model aligns well with the current adoption level.

If the gateway’s active fund management enables the acquisition of a significant amount of Bitcoin with relatively little capital, that marks 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.”

Bitcoin is trading at $93,895 at time of writing. The top-ranked crypto asset by market cap is down nearly 2% in the past 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Don White – Art Dreamer/Vladimir Sazonov