Leading institutional Bitcoin investors, including spot Bitcoin exchange-traded funds (ETFs), MicroStrategy, and various custodial wallets, have significantly increased their holdings this year. According to Ki Young Ju, CEO of a notable on-chain data company, these entities have collectively acquired around 1.55 million BTC. The purchases often involve transactions from large-scale holders, known as whales, who prefer privacy-centric methods to discreetly transfer significant amounts of Bitcoin to new institutional players.

Despite the transparency in most transactions, there remains a substantial portion of the activity shrouded in mystery. Ju pointed out that between 240,000 and 420,000 BTC have been purchased through unidentifiable transactions. The identities of these major buyers are still unknown, sparking curiosity about the possible new power players in the cryptocurrency market. The ongoing accumulation underscores the growing confidence of institutional investors in Bitcoin’s long-term value.