Report: No BTC bear market amid rising institutional, national demand

Bitcoin adoption is accelerating despite the asset's price correction, according to a new report from Bitcoin financial services firm River, cited by Cointelegraph. The report highlights that even with BTC down approximately 50% from its all-time high, adoption by institutions, banks, corporations, and nations has quickened. Over the past year, institutional investors accumulated a total of 829,000 BTC through corporations, governments, funds, and ETFs. The report notes that Registered Investment Advisors (RIAs) have been net buyers for eight consecutive quarters, and spot Bitcoin ETFs have seen inflows of about $1.5 billion per quarter over the last two years. Additionally, around 60% of major U.S. banks are reportedly developing Bitcoin-related products as the regulatory environment improves. Corporate investment saw the most significant growth, with volumes increasing 2.5 times year-over-year. Nation-state adoption has also expanded, with five new countries—including the sovereign wealth funds of Luxembourg and Saudi Arabia, the Czech central bank, Brazil, and Taiwan—beginning to hold Bitcoin. This brings the total number of countries holding BTC through mining, seized assets, or central banks to 23. River concluded that based on these trends, the pace of future BTC adoption is likely to accelerate further.