Big Investors Keep Buying Bitcoin!
Weekly Crypto Update: The world’s biggest financial players are doubling down on Bitcoin, signaling a growing confidence in the cryptocurrency market.
In Japan, gaming company gumi made headlines by purchasing 6.6 million USDT worth of Bitcoin, further solidifying corporate interest in digital assets. Meanwhile, energy tech firm KULRTech significantly increased its holdings by acquiring 100 BTC (worth 10 million USDT), bringing its total Bitcoin stash to 610 BTC. Another major player, Metaplanet_JP, successfully raised $26 million and announced its plans to use the funds to buy even more Bitcoin.
Source | Crypto News
But it’s not just corporations jumping in, governments and financial institutions are also making strategic moves into Bitcoin ETFs. The Abu Dhabi sovereign wealth fund invested a massive $437 million into BlackRock’s Bitcoin ETF (IBIT), while Hong Kong-based investment firm Avenir revealed that it holds 599 million USDT in Bitcoin ETFs. Additionally, the Wisconsin State Investment Board disclosed its 321 million USDT Bitcoin ETF holdings, showing that state-level institutions are beginning to recognize crypto as a legitimate asset class.
Source | Cityam
Even traditional banking giants are entering the game. Goldman Sachs allocated $1.5 billion into Bitcoin investment funds and $470 million into Ethereum, while JPMorgan has dipped its toes into the Bitcoin market with over 1 million USDT in holdings. Barclays also revealed it holds 131 million USDT in Bitcoin ETFs. The biggest shock came from MicroStrategy (now named Strategy), which made another colossal Bitcoin purchase, 7,633 BTC (worth 742.4 million USDT) at an average price of 97,255 USDT per BTC. This latest purchase brings MicroStrategy’s total Bitcoin holdings to 478,740 BTC, valued at a staggering 31.1 billion USDT.
Source | X @Saylor
With so many major institutions getting involved, one question remains, is this the beginning of a major institutional FOMO rally?
Crypto Adoption Expanding
Beyond big-money investments, Bitcoin and other cryptocurrencies are making their way into everyday life. Visa has partnered with Fold to launch a Bitcoin rewards credit card, making it easier for users to earn Bitcoin on their purchases. Meanwhile, Saudi Arabia is making a huge bet on artificial intelligence, allocating $14.9 billion towards AI investments and partnering with major tech firms like Google, Lenovo, and Alibaba to lead innovation in the region.
Saudi Arabia Photo | Isuu.com
In the Ethereum ecosystem, developers are pushing for faster protocol upgrades to improve scalability and efficiency. The demand for Ethereum-based products is rising, with U.S. Ethereum ETFs acquiring 146,540 ETH (420.2M USDT) just last week. Additionally, Franklin Templeton registered a Solana Trust in Delaware, suggesting that a Solana ETF may soon be on the horizon. In parallel, Grayscale has filed an application for a Spot ETF for Cardano (ADA), further indicating that altcoin ETFs are gaining traction.
Regulations & Politics
The regulatory landscape is heating up, with 21 U.S. states currently discussing the creation of a strategic Bitcoin reserve. Utah is leading the charge, and if approved, its Bitcoin reserve law could go into effect by May 7. New Mexico is also considering a massive $2 billion Bitcoin investment, while Oklahoma’s proposed Bitcoin reserve bill has successfully passed a committee vote.
Source | Bitcoin Laws
On the international front, Japan is preparing to classify cryptocurrencies as financial products, which could pave the way for a Spot Bitcoin ETF approval. Meanwhile, China has retaliated against U.S. trade policies by imposing 10-15% tariffs on American coal, LNG, crude oil, and automobiles.
Source | Esigator
In the U.S., Trump has signed executive orders for a global tariff review, which could have significant implications for global trade and digital asset markets. Additionally, he is reportedly appointing Brian Quintenz, a16z’s policy chief, as the new chairman of the CFTC. Back in Washington, Congress continues to face pressure to establish clearer cryptocurrency regulations, as other nations are moving forward with more defined policies.
Source | Fox Business
Market Data & Trends
The markets faced some turbulence last week as the U.S. Consumer Price Index (CPI) came in higher than expected at 3.0%, signaling inflationary pressure, typically a negative factor for risk assets like crypto. Similarly, the U.S. Producer Price Index (PPI) also exceeded expectations, reinforcing concerns about rising costs.
Source | Forex Dominion
Despite market fluctuations, Bitcoin ETFs are seeing increasing demand. The National Bank of Canada recently purchased 2 million USDT worth of Bitcoin ETFs, highlighting growing institutional interest. Trump’s WLFI fund also made significant purchases, adding 5M USDT in WBTC.
Source | WLFI
Elsewhere in the crypto space, over 4.51 billion stablecoins were issued on Ethereum and TRON last week, showcasing continued demand for blockchain-based liquidity solutions. Meanwhile, the XRP and DOGE Spot ETFs gained traction, with the SEC acknowledging Grayscale’s amendment to launch these products.
Source | CryptoTimes
Breaking Developments
Several major events are set to further shape the crypto landscape:
- FTX is set to begin repaying $16 billion to creditors starting February 18, 2025.
- Trump and Putin have reportedly agreed to begin negotiations to end the war in Ukraine. Possible peace discussions are expected to take place at the Munich Security Conference (Feb 14-16).
- The OpenSea Foundation is launching its own token: SEA, marking a new chapter for the NFT marketplace.
- Doodles is launching its token (DOOD) on Solana, allocating 68% to the community.
Final Thoughts
As institutional adoption continues to rise, regulatory frameworks evolve, and new crypto products hit the market, it’s clear that the industry is undergoing a period of rapid transformation. With major players like Visa integrating Bitcoin rewards, governments exploring Bitcoin reserves, and major firms actively buying up digital assets, the future of crypto looks more promising than ever. Keep an eye on the trends, this is just the beginning!
Disclaimer: This article is not financial advice. Always do your own research (DYOR) before making investment decisions. You can start by exploring resources on blog.millionero.com. When you’re ready, trade spot and futures on Millionero!