#比特币机构配置与囤积 Seeing Saylor hinting again at increasing Bitcoin holdings, I’m all too familiar with this routine. The news comes out, and the next day they disclose the increase—this rhythm is mastered with precision. But there’s a warning behind this— the logic of institutional accumulation of Bitcoin is completely different from retail investors.

Saylor says "continue accumulating until market complaints stop," which sounds bold, but actually reflects a reality: big funds are positioning themselves, while the market questions the sustainability of this business model. MSCI is even considering removing similar companies from their index system, which is no small matter.

I recall seeing many cases years ago where people blindly followed institutional allocations. Watching the big players buy Bitcoin and rushing in themselves—what was the result? Institutions have cost advantages, risk tolerance, and can lock in for the long term. What about retail investors? A wave of decline triggers FOMO selling. That’s the real disconnect.

The key is to understand: the "accumulation strategy" of institutions is not the same as holding a few coins in your wallet. They are playing a big game; you need to think clearly about your own bottom line—stop-loss points, selling conditions, risk tolerance. Don’t be hypnotized by the stories of the big players and end up as the bag-holder.