Analysis: Bitcoin Outperforms Gold and Stock Markets Amid Global Turmoil, ETFs and MicroStrategy Accelerate Accumulation

Odaily News Bitcoin and Ethereum have recently outperformed both gold and global stock markets, highlighting safe-haven demand amid geopolitical tensions. Wall Street brokerage Bernstein noted that Bitcoin's resilience reflects a fundamental shift in its ownership structure, with institutional investors now dominating the market. On the institutional holdings front, MicroStrategy, often called the "Bitcoin's last central bank," continues to buy Bitcoin during market downturns. It recently acquired an additional 22,337 BTC at an average price of approximately $70,194 per coin, bringing its total holdings to 761,068 BTC with an average cost basis of around $75,696. Analysis indicates that Bitcoin's recent performance under geopolitical pressure has reignited discussions about its role as "digital gold." MicroStrategy's stock (MSTR) currently trades at a discount of approximately 14% to its Bitcoin net asset value, offering stock market investors a high-beta way to participate in Bitcoin's rise. Through high-yield financing provided by its STRC product, MicroStrategy has further secured liquidity to support its market purchases.

Meanwhile, spot Bitcoin ETFs have attracted approximately $2.1 billion in inflows over the past three weeks, accounting for about 6.1% of the total supply. Institutional investors include wealth management firms, pension funds, and sovereign investors. Retail investors have recently been net sellers, but the proportion of long-term holders remains high, with approximately 60% of Bitcoin not having moved in the past year, indicating the persistence of its long-term value storage properties. (CoinDesk)