# 比特币机构配置与囤积

#比特币机构配置与囤积 Last week, institutional Bitcoin allocation data has been整理完了, and several signals are worth关注。
**Core Observations:**
Strategy this week once again投入 9.6 billion USD to buy 10,624 BTC, bringing total holdings to 660,000 BTC—this scale已等同于中等国家的外汇储备规模. Twenty One Capital just披露 43,500 BTC upon上市, directly进入第一梯队. This is not retail accumulation, but listed companies将比特币写进财务报表、当作战略资产来配置.
**Notable Details:**
Multi-chain配置已成常态. Lion Group not only买 BTC, but also配置了 SOL 和 HYPE; Republic Technologies主动增持 ETH并预留 1,000 万继续跟; Shuntai Holdings用 FIL支撑挖矿业务. This indicates that大机构已经走过"要不要配"的阶段

#比特币机构配置与囤积 Seeing this round of disclosure of crypto assets by listed companies, a clear timeline comes to mind.
Remember the frenzy in 2017? Institutions hadn't even touched the edges; Bitcoin was a playground for retail investors. By 2020, with PayPal entering the scene and MicroStrategy announcing its holdings for the first time, we saw the emergence of institutional allocation. At that time, many found it unbelievable—could a listed company really put Bitcoin on its balance sheet?
And now? MicroStrategy holds over 660,000 coins, Twenty One Capital has gone public directly with over 43,00

#比特币机构配置与囤积 Seeing the crypto asset allocation data of publicly listed companies this week, I truly feel an unstoppable trend is taking shape.
From Strategy continuously increasing its BTC holdings by over 660,000 coins, to Twenty One Capital announcing possession of 43,500 BTC on its first day of listing, and more companies beginning to allocate assets like ETH, FIL, and other multi-chain assets — this is no longer the isolated actions of a few "radicals," but a systematic recognition of blockchain assets by the traditional capital world.
The most interesting part is the evolution of the all

#比特币机构配置与囤积 Seeing Strategy increase its holdings significantly for two consecutive weeks, accumulating over 10,000 Bitcoins in just one week, is truly a fascinating signal!
Imagine a large institution accelerating its deployment when the market is full of noise and skepticism. What does this indicate? It shows how firm their belief in the long-term value of Bitcoin is. From early December to now, in just two weeks, they have increased their holdings by over 20,000 Bitcoins, with total holdings surpassing 670,000—this is not casual retail trading; this is a genuine institution voting with rea

#比特币机构配置与囤积 Seeing Cathie Wood's recent commentary, I have to admit that this is the first time I see a clear understanding of crypto investing.
Over the past two years, I've suffered losses on-chain, and the biggest lesson is that I couldn't distinguish between genuine demand and the narratives pushed by whales. Bitcoin being repeatedly emphasized by institutions as the "global monetary system" and the "preferred entry point" is no coincidence— the logic behind institutional allocation is completely different from retail traders chasing rallies and panic selling. They want the most liquid an

#比特币机构配置与囤积 Seeing Saylor signaling again in this round, what flashes through my mind are the scenes from 2011 to 2017. Back then, our group was arguing in forums over whether Bitcoin was a Ponzi scheme, while a few people were quietly accumulating. History always repeats itself, only the actors change.
What’s different this time is that accumulation has evolved from retail’s solitary steadfastness to institutional’s public declaration. The Strategy model essentially benchmarks against gold ETFs, but the underlying asset has shifted to BTC—this transition is crucial, as evidenced by the react

#比特币机构配置与囤积 An obvious signaling pattern has been observed: the expansion of listed companies' Bitcoin treasury has evolved from sporadic actions into a systematic strategy.
Last week's data is quite interesting—Strategy's single investment of $960 million increased holdings by 10,624 BTC, pushing total holdings beyond 660,000 BTC; Twenty One Capital disclosed over 43,000 BTC holdings on its first day of listing; ProCap Financial adjusted to 5,000 BTC. These are not exploratory moves but clear long-term allocation commitments.
Even more noteworthy is the change in allocation structure. Early

#比特币机构配置与囤积 Seeing Strategy's continuous large-scale purchases over the past two weeks, what flashed through my mind wasn't excitement, but a familiar déjà vu.
7.1 million Bitcoins, a total cost of 50.3 billion USD — the number itself isn't important; what's important is the cyclical logic behind it. Remember the madness at the end of 2017? Back then, institutions were still on the sidelines, retail investors were begging on their knees. By early 2020, before the pandemic, institutions slowly started to test the waters. And now? The loudest FUD waves are actually the most intense accumulation

#比特币机构配置与囤积 Seeing Strategy has increased its Bitcoin holdings by 10,645 coins, totaling nearly $1 billion, I immediately thought of the beginning of the institutional entry wave in 2017. Back then, we were still debating whether Bitcoin was a bubble, and now institutions have answered that question with their actions.
Interestingly, the cost per Bitcoin for Strategy was about $74,972, and now the purchase price has surged to $92,098. This continuous pace of accumulation reminds me of the historical patterns of institutional allocation during major cycles— from hesitation to exploration, and

#比特币机构配置与囤积 This week, I observed a particularly interesting phenomenon—global publicly listed companies are frantically accumulating Bitcoin as "digital gold"! Strategy has already invested nearly $1 billion in purchasing 10,624 BTC, and their holdings now exceed 660,000 BTC, making them the world's largest Bitcoin treasury. Additionally, Twenty One Capital revealed a stake of 43,500 BTC right after going public. These corporate players' actions truly speak volumes.
What's even more fascinating is that asset allocation strategies are no longer just about "buying Bitcoin." Assets with real-wo