In the last quarter, a major wealth fund significantly increased its Bitcoin holdings, indicating active engagement in the cryptocurrency market.
Increase in Bitcoin Holdings
The fund boosted its indirect Bitcoin holdings from 6,200 BTC to 11,400 BTC, representing an 83% increase in just one quarter.
MicroStrategy and Metaplanet Stakes
Almost all of the added exposure came through MicroStrategy, which remains the largest corporate holder of Bitcoin. A smaller position of roughly 200 BTC-equivalent was added in Metaplanet, sometimes referred to as 'Japan’s MicroStrategy.'
Optimistic Bitcoin Forecasts
Analyst Kendrick has maintained a positive outlook on the cryptocurrency market and raised his Bitcoin target to $135,000 by the end of September and $200,000 by the year’s end.
The increase in Bitcoin holdings by the largest wealth fund and positive analyst forecasts highlight a growing interest in cryptocurrencies as an asset class.
