In 2024, institutions purchased 1 million bitcoins from individuals, of which 400,000 were bought by ETFs and another 400,000 were acquired by MicroStrategy. Currently, MicroStrategy is still continuing to increase its holdings, and more enterprises and institutions are waiting for the right moment to allocate bitcoin. Against this backdrop, the stock of bitcoin on exchanges will accelerate its outflow, and the price of bitcoin is expected to experience sustained rapid growth in the coming years.