A major news has been circulating in the crypto world recently—Grayscale made a bold move in early 2026, raising $1.25 billion to directly purchase 13,627 Bitcoins. Its total holdings have already surpassed 687,400 coins, accounting for 3.27% of the entire circulating supply. What does this number mean? It’s thicker than the foreign exchange reserves of many countries. Seeing this, I understand that this is not some short-term speculation, but a major institutional-level asset reallocation.

Why are companies collectively treating Bitcoin as a hot commodity? Essentially, there are three driving forces. First is the anti-inflation property—global money printing is nonstop, and Bitcoin, as a hard currency independent of traditional financial systems, demonstrates its value at this moment. Second is the risk diversification logic—Bitcoin has a very low correlation with stocks and bonds, and adding it to an investment portfolio can significantly reduce overall volatility. Lastly is the pure yield—between 2019 and 2026, the price has increased by over 2157%, which traditional assets simply cannot match. Plus, with regulatory frameworks becoming clearer in the past two years, institutional confidence to enter the market has grown stronger.

But a cold shower is necessary here. Institutional enthusiasm doesn’t mean retail investors can just sit back and win. The key support level in the current market is around $94,000—this price is actually the average cost for new entrants over the past year. Once it falls below this, panic selling and stampedes are likely to occur. Moreover, Bitcoin’s large fluctuations will directly amplify the stock price risk for holding companies. This doesn’t even account for regulatory policy changes and accounting or tax issues that could trigger sudden shocks. Grayscale itself experienced a quarterly unrealized loss of 17.4 billion USD—what does this tell us? Even professional institutions need to stay alert at all times.

The key difference is that corporate Bitcoin allocations are long-term strategic deployments. They have access to financing ammunition and a complete risk hedging system, making them capable of enduring long-term volatility. Retail investors shouting to buy in are easily at risk of being exploited. However, from another perspective, there is indeed certainty behind this trend—the consensus on Bitcoin’s value is shifting from individual investors to institutions. This evolution is almost irreversible. Lightning Network and cross-chain technologies are continuously enhancing Bitcoin’s practicality. More and more countries are developing regulatory frameworks for crypto assets. Over the next decade, the probability of Bitcoin becoming a global supplementary reserve asset is quite high.

In other words, this major shift in asset allocation deserves ongoing attention, but it must be approached rationally. For companies, decisions should be based on their strategic and financial structures. Retail investors need to clearly understand their risk tolerance. Don’t be swept away by market sentiment, and definitely avoid chasing highs and selling lows. The shift of Bitcoin’s value consensus from individual investors to institutions is itself the biggest opportunity—yet opportunities and traps are often separated by a single thought.