Looking at the recent market trends, it is indeed quite interesting. A leading technology company recently invested 40.3 million dollars, increasing their position by 451 BTC in one go, and their total holdings have now surpassed 11,500 BTC, with a market capitalization exceeding 1 billion dollars—this pace is clearly not a random operation.

Background is more worthy of attention: this company has previously invested over $2 billion to build a Bitcoin reserve. At the same time, the topic of incorporating BTC into national strategic reserves remains hot, and the regulatory attitude towards crypto assets is also clearly changing, with compliance channels gradually opening up.

What is the logic behind this? On one hand, giving the market a confidence boost through policy signals to elevate overall expectations; on the other hand, allowing institutions and companies to increase their positions. The effect is obvious—this can not only bolster market confidence but also create an environment for asset applications within the ecosystem (such as functional tokens).

The current situation is that institutions are scrambling for chips, and the national team is also participating, with liquidity gradually decreasing. Under this tense supply pattern, the scarcity of holdings for spot holders is rising. Market participants are well aware of this, so many choose to hold their positions.