🚀 Public companies are scrambling for Bitcoin! Strategy invests another $500 million at the bottom, is the bull market engine fully revved up or a sign of a bubble?
(Attached is the panoramic view of institutional holdings + analysis of long and short battle points)
💥 Latest updates: Strategy "increases positions on dips," global giants launch a buying spree
Strategy buys another 430 BTC
On August 18 data, Strategy (formerly MicroStrategy) increased its holdings by 430 Bitcoins at an average price of $119,666, costing $51.4 million, bringing the total holdings to 629,376 BTC (cost price $73,320, with a floating profit of over 60%).
Global public companies had a net inflow of $280 million in one week
Japan's Metaplanet: spent $154 million to purchase 1,293 BTC, total holdings reached 18,888;
UK's The Smarter Web and 5 other companies: entered the market simultaneously, including the food, medical, and clothing industries, increasing holdings by over 600 BTC in one week.
Total holdings hit a record: 714,010 BTC (market value $82.24 billion), accounting for 3.59% of circulation, institutional "accumulation" speed set a historical high.
🌐 Institutional wave: three engines driving an "epic bull market"
Bitcoin ETF becomes a “black hole”
US spot ETF holdings approach 1.3 million BTC (accounting for 6.5% of circulation), if the current inflow speed is maintained, it will exceed 1.5 million by the end of the year (surpassing the estimated 1.4 million lost Bitcoins).
BlackRock's IBIT holds 744,500 BTC (accounting for 3.3% of total), becoming the largest trader.
National strategic reserves upgraded
The Trump administration promoted the inclusion of Bitcoin in the US national strategic reserves, with 15 states planning to establish Bitcoin reserves; El Salvador's holdings increased to 6,000, and Paraguay is building a "mining capital."
Consensus target price of $500,000
Several research reports indicate that we are currently in a "steady strong mid-term bull market," on-chain indicators (like NUPL) show that 50%-70% of the supply is in profit status, with no signs of frenzied selling, and it may rise to $500,000 in the next few years.
⚠️ Bearish warning: the lurking threat of a bear market in 2026
Leverage and profit risk
Grayscale's GBTC saw an outflow of $161 million in one week, with long-term holders concentratedly selling around $120,000;
Technical indicators show a top divergence: RSI overbought, MACD dead cross, if US stocks fall by 20%, Bitcoin may drop by 33%.
Macroeconomic headwinds
Expectations for Fed rate cuts are cooling (only 2 times in 2025), and the Bank of Japan is raising interest rates, tightening global liquidity suppressing risk assets.
Topic:
If the 2026 bear market falls to $120,000-$150,000, would you dare to buy the dip?
