BTC Weekly: Week 8 (2025)
Key Events from 2/16/2025-2/22/2025
SEC 13F filings show institutions holding shares of Strategy (MSTR):
$1.2B Union Bank of Switzerland
$1.03B Cantor Fitzgerald
$790M Bank of Montreal
$525M National Bank of Canada
$100M JP Morgan
$82.8M California State Teachers’ Retirement System
$76.7M California Public Employees Retirement System
Bitcoin Laws reports that Utah's HB230 Bitcoin reserve bill passed the Senate Revenue and Taxation Committee, and the next steps needed are two more Senate readings, a final Senate vote, and Governor Spencer Cox's signature to potentially make Utah the first state to adopt Bitcoin as a reserve asset. (@Bitcoin_Laws)
Bernstein ($725B AUM) analysts declare Bitcoin as "the clear challenger to gold," attributing this to its increasing adoption across banks, institutions, and corporations. (Decrypt)
Standard Chartered’s Geoffrey Kendrick predicts that more sovereign wealth funds will adopt Bitcoin, stating “While this is small for now, we would expect the size to increase over time and, indeed, for other sovereigns to also start buying.” (The Block)
Simon Gerovich, Metaplanet CEO (Japan), announces another $26.3M purchase in Bitcoin, bringing the company’s treasury to $163.3M. (@gerovich)
Altvest Capital has become the first publicly listed company in Africa to adopt Bitcoin as a strategic treasury asset with its first purchase. (Coindesk)
Summary
This week, notable strides in institutional and governmental adoption of Bitcoin have taken center stage. SEC 13F filings reveal substantial investments in Strategy (MSTR) by major institutions, including $1.2B from Union Bank of Switzerland, $1.03B from Cantor Fitzgerald, and $790M from Bank of Montreal, among others. Meanwhile, Utah’s HB230 Bitcoin reserve bill has cleared the Senate Revenue and Taxation Committee, edging closer to potentially making Utah the first U.S. state to adopt Bitcoin as a reserve asset, pending further Senate votes and the governor’s approval. Bernstein analysts have proclaimed Bitcoin "the clear challenger to gold" due to its growing traction across financial sectors, while Standard Chartered’s Geoffrey Kendrick predicts a rising trend of Bitcoin investments by sovereign wealth funds. Lastly, Japan’s Metaplanet CEO Simon Gerovich announced a $26.3M Bitcoin purchase, lifting its treasury to $163.3M, and Altvest Capital became Africa’s first publicly listed company to adopt Bitcoin as a strategic treasury asset.