#比特币机构配置与囤积 Seeing Strategy has increased its holdings by over 10,000 bitcoins, I suddenly remembered the years I got caught in the market. Back then, my mind was full of dreams of getting rich quick with altcoins, but the institutions had already been quietly accumulating bitcoins.

The most heartbreaking thing was what Cathie Wood said — Bitcoin is the most liquid among all crypto assets and is usually the first to be sold off. I understand this statement especially well now. During that wave in 2021, I watched various small coins crash, while Bitcoin’s decline was the smallest. At the time, I thought I had discovered some clever arbitrage opportunity, but now I realize it was just the market’s objective law.

The logic behind the continuous accumulation by institutions is actually very simple — they are allocating asset classes, not gambling chips. The Strategy costs only around $70,000 per coin, and now it has doubled in value. This is not luck; it’s an understanding of lifecycle. They know what they are allocating, and their holding period is measured in years. What was our mindset back then? We were eager for triple-digit weekly returns.

Looking at the overall landscape now, the entry of large traditional finance is only a matter of time. But the most important lesson I’ve learned is: don’t try to outsmart the institutions’ allocation logic, understand it and follow it. Those who FOMO into various concept coins end up as the leeks for institutions to harvest. Bitcoin may seem to have no story, but it has lasted long enough, and institutions have chosen it. That’s enough.