Bitcoin outperforms gold and stocks in global turmoil as ETFs and Strategy accumulate

According to Wall Street broker Bernstein, Bitcoin's recent 7% climb during geopolitical uncertainty reflects a fundamental transformation in its ownership structure, driven by institutional accumulation. Analysts attribute this resilience to the combination of Strategy's treasury model and the inflows into spot Bitcoin ETFs. Strategy, acting as a "bitcoin central bank of last resort," continued buying, acquiring $1.57 billion in BTC last week, bringing its total holdings to 761,068 BTC. Concurrently, spot Bitcoin ETFs attracted $2.1 billion in inflows over three weeks, bringing ETF ownership to about 6.1% of the total supply, drawing allocations from wealth managers and pension funds. This performance has reignited the debate over Bitcoin's role as "digital gold" and a geopolitical hedge, as long-term holders remain dominant, with 60% of supply unmoved for over a year.

(Source：CoinDesk)