Bitwise CIO Predicts Institutional Capital Will Be Bigger Bitcoin Buyer Than MicroStrategy on July 8

According to Bitwise Chief Investment Officer Matt Hougan, on July 8, institutional capital will become the next major Bitcoin buyer, surpassing MicroStrategy (Nasdaq: MSTR) as the dominant marginal source of demand for BTC.

Hougan noted that MicroStrategy, which held 843,775 BTC and was historically the largest Bitcoin accumulator, is no longer the primary source of marginal capital. "The next marginal buyer is the end boss of investing... It's institutional capital," Hougan stated. MicroStrategy remains the largest Bitcoin holder overall, though it sold 3,588 BTC for $216 million in late June.