MZH Zee

08/01 08:04

Bitcoin Companies Hold Nearly Half a Trillion BTC.

Bitcoin Companies Hold Nearly Half a Trillion BTC.

Zheng said the entry of institutional players into the market after the OGs left is a “natural evolution of the system” and the creation of a certain order.

Crypto treasuries, in particular, have proven popular with companies looking to gain exposure to Bitcoin.

According to Bitbo, 219 institutions collectively hold 3.6 million Bitcoin, worth more than $419 billion. This includes exchange-traded funds (ETFs), countries, public and private companies, Bitcoin mining companies, and DeFi.

“I think now that there is corporate treasury, Bitcoin treasury, which is a kind of institutional order, and then the ETF market, they play a different role, more in the Wall Street mechanism,” Zheng said.

“This has become a new type of order in the future evolution of the Bitcoin process; it is a healthy path [...] for future growth.”

 However, Zheng said that Bitcoin's price volatility will likely continue in the near future until Bitcoin becomes "true digital gold," which may require a few more boom-bust cycles.

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