"With the Federal Reserve and other central banks printing trillions of dollars, I can't imagine anyone wanting to hold onto it." - Satoshi Nakamoto, the mysterious creator of Bitcoin.
These words from Satoshi Nakamoto ring truer than ever. As governments and central banks worldwide continue to debase their national currencies through reckless money printing, more and more people are turning to Bitcoin as a safe haven.
According to a new report, over 5% of Bitcoin's circulating supply is now held in exchange-traded products (ETPs). This translates to over 1 million BTC, worth a staggering $74 billion in assets under management (AUM).
This significant milestone demonstrates the growing institutional and mainstream adoption of Bitcoin. Investors are recognizing Bitcoin's inherent scarcity, decentralization, and ability to preserve wealth in the face of inflationary pressures.
Unlike traditional fiat currencies, Bitcoin has a fixed supply cap of 21 million coins, which ensures that it cannot be devalued through endless money printing. This makes it an attractive hedge against the reckless monetary policies of central banks.
As more people and institutions recognize the value of Bitcoin, we can expect to see its adoption and price continue to rise.