Bitwise CIO Matt Hougan reports a dramatic surge in institutional and governmental Bitcoin (BTC) demand, significantly outpacing mining production in 2024. According to Hougan, demand from publicly listed companies, ETFs, and national governments has reached 227,286 BTC, exceeding three times the 58,109 BTC mined during the same period. This surge, valued at over $23 billion at a hypothetical $103,000 BTC price, highlights Bitcoin's growing acceptance as a strategic asset. Companies like MicroStrategy, MetaPlanet, and Marathon Holdings are actively increasing their BTC holdings, further demonstrating this trend. The increased demand could put further upward pressure on Bitcoin prices. The data underscores a fundamental shift in the Bitcoin market, where institutional adoption is becoming a primary driver of price appreciation. ```

#BTC #ETF