Satoshi

Bitcoin

Institutional demand for <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> through custodial wallets has shown remarkable growth, according to CryptoQuant’s founder, Ki Young Ju.
The analysis reveals that institutional investors are accumulating Bitcoin at twice the rate of retail investors.
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 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> institutional demand in custodial wallets is rising. Over the past year, 278K BTC flowed into U.S. spot ETFs (80% retail) vs. 670K BTC into whale wallets (1K+ BTC, excluding exchanges/mining pools). In custodial wallets, institutional demand is twice that of retail. <a href="https://t.co/OsxS7x3kEL" rel="noopener noreferrer nofollow">pic.twitter.com/OsxS7x3kEL</a>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1851132489420718423?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 29, 2024</a>
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<h2 class="wp-block-heading" id="h-whale-wallets-accumulated-670-000-bitcoin">Whale Wallets Accumulated 670,000 Bitcoin</h2>
Over the past year, whale wallets holding more than 1,000 BTC have accumulated approximately 670,000 BTC. This data is excluding exchanges and mining pools.
This figure outpaces the 278,000 BTC that has flowed into U.S. spot ETFs, which primarily represent retail investors (estimated at 80% of ETF holders).
The disparity highlights the growing institutional presence in the Bitcoin market through traditional custodial services.
Ki Young Ju notes that most ETF wallets hold less than 1,000 BTC. This suggests that the whale wallet data accurately represents custodial wallet activity while excluding most ETF-related holdings.
This distinction provides valuable insight into institutional investment patterns.
<h2 class="wp-block-heading" id="h-bitcoin-reclaimed-71-000-for-a-short-period">Bitcoin Reclaimed $71,000 for a Short Period</h2>
Bitcoin’s recent price action reflects this strong institutional interest. The cryptocurrency has shown impressive gains across multiple timeframes.
BTC was up by 3.6% in 24 hours, 5.0% over seven days, and 8.3% over the past month. The price recently touched $71,540 after climbing from a 24-hour low of $68,100.
However, the rally has slowed down, and Bitcoin was trading at around $70,900 at press time.
This price appreciation has majorly benefited major institutional holders. MicroStrategy, the largest corporate Bitcoin holder, has seen its 252,220 BTC holdings reach a value of $17.92 billion.
This means that the company was sitting on an unrealized gain of $7.9 billion, according to&nbsp;<a href="https://saylortracker.com/" rel="noopener noreferrer nofollow">Saylortracker</a>&nbsp;data.
The company’s last BTC purchase was on September 20, 2024. MicroStrategy had purchased 7420 BTC for $458.2 million. The single purchase has appreciated by 14.8%, with an unrealized profit of $67.9 million.
<h2 class="wp-block-heading" id="h-bitcoin-s-usability-as-a-currency-by-2030">Bitcoin’s Usability as a Currency by 2030</h2>
Ki Young Ju’s analysis extends beyond current market dynamics to Bitcoin’s future role.
He&nbsp;<a href="https://x.com/ki_young_ju/status/1849350184100331556" rel="noopener noreferrer nofollow">predicts</a>&nbsp;that BTC could transition from a store of value to a widely used currency by 2030. He cited the increasing professionalization of Bitcoin mining as evidence of the network’s maturation.
Mining difficulty has risen by 378% over the past three years. This reflects intense competition and institutional dominance in what was once an individual-focused activity.
This transition aligns with Satoshi Nakamoto’s original vision of Bitcoin as “P2P Electronic Cash” rather than digital gold.
The increasing institutional involvement and network maturation could help reduce Bitcoin’s volatility. This could potentially enable its use as a mainstream currency by 2030.
The current institutional accumulation through custodial wallets represents a crucial step in this evolution. It can likely provide the stability and legitimacy needed for broader adoption.
With its recent pump, Bitcoin was just 3.8% away from hitting its all time high of $73,700. This new ATH was touched on March 14, 2024.
The post <a href="https://www.thecoinrepublic.com/2024/10/29/bitcoin-institutional-demand-in-custodial-wallets-rising-cryptoquant/" rel="noopener noreferrer nofollow">Bitcoin Institutional Demand in Custodial Wallets Rising: CryptoQuant</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Bitcoin Institutional Demand in Custodial Wallets Rising: CryptoQuant

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