The Institutions Didn't Get the Memo That Bitcoin Is Supposed to Be Dead
While the WSJ ran a quantum scare story and Bitcoin sat near $68k, three separate companies spent this week adding thousands of BTC to their balance sheets. Strategy's new STRC vehicle bought 4,535 bitcoin in four days. Metaplanet came back from a 120-day pause with a 5,075 BTC purchase. BlackRock filed a ticker for a brand new Bitcoin yield ETF. The buyers are not waiting for permission. GameStop, meanwhile, handed its bitcoin to Coinbase and let them rehypothecate it. Not everyone is playing the same game.
