First of all, the U.S. government has begun to establish a BTC strategic reserve, although at the national level, Trump mentioned using already seized BTC.
However, from the BTC strategic reserves established by various state governments, they are all using their respective pension funds and similar funds to buy BTC. This is the largest force in the U.S. - the funds from state governments. When they buy, it’s not one or two thousand, but definitely starting from tens of thousands. With 50 states in the U.S., if each state buys thirty to forty thousand, that’s over two million BTC in purchases.
In addition to the government, if everyone pays attention to information, they should have noticed: many listed companies in the U.S. are also continuously establishing BTC strategic reserves. There is also MicroStrategy @Strategy.
A leading type of company conducts BTC strategic reserves in the form of convertible bonds (financing > buying BTC > financing > buying BTC).
Recently, information indicated that Trump Media under the president raised $2.5 billion to establish a BTC reserve. With the president paving the way, it further indicates that more and more companies will imitate this strategy to establish BTC strategic reserves.
To know that there are five hundred listed companies just in the S&P, if each company invests ten billion or twenty billion, that would mean an inflow of over a trillion in funds.
In addition to these spot trades, there is also the Chicago Mercantile Exchange - their own options trading is also a very terrifying existence. Including the fact that Coinbase in the U.S. acquired Drbit, the options derivatives exchange, as well as the recently known Hype Liquid, among others.
These options funds also have a huge impact on the composition of funds for BTC.
Just a simple calculation shows that the scale of these funds is not weaker than that of ETFs. This is still limited to the U.S., and does not account for the sovereign funds of tycoons in Dubai, Saudi Arabia, and the European market's buying and promotion of BTC.
Based on this, not to mention the predictions of one million or two million, I only know: 110,000 is not $BTC the endpoint, but a new starting point.
