#比特币机构配置与囤积 Seeing the recent Bitcoin accumulation data from listed companies, I am reminded of a few major losses I suffered in the crypto space early on. Back then, I always thought retail investors and institutions were similar, but I later realized the difference lies in the entire mindset.

What are institutions doing now? Strategy has spent $960 million to acquire 10,624 BTC, and Twenty One Capital revealed 43,500 BTC right after going public. This is not short-term speculation; it’s about integrating Bitcoin into financial statements and treating it as a long-term asset allocation. The key is that these companies are also practicing DCA for continuous expansion—having stable cash flow means they have patience to accumulate and don’t fall for FOMO.

On the other hand, what about us retail investors? Hearing a piece of news, we go all-in; seeing a dip, we cut our losses. In the end, we get completely harvested during the institutions’ accumulation phase. I am now especially wary of the temptation of "urgent entry." Institutions are never in a rush; they know good assets are right there, and time creates space. From 2011 to now, those who truly survive are not the FOMO chasers but those who recognize the trend and can endure.

The normalization of multi-chain allocation is also a noteworthy signal—ETH, FIL are starting to enter corporate portfolios. But the premise is that these companies have concrete business scenarios to support it, not just following the hype of concepts. The lesson for us is: don’t be dazzled by colorful new tokens; first, ask yourself why you’re buying, how long you can hold, and what your bottom line is.

Living on-chain is actually that simple—know whether you are an institution or retail, choose a suitable pace, and stick to it.