#比特币机构配置与囤积 Looking at this week's listed company Bitcoin treasury data, it's quite interesting. MicroStrategy has spent another $960 million to buy Bitcoin, now holding 660,000 coins. This is no longer just an investment; it's a long-term commitment to Bitcoin using the company's balance sheet.

But I want to remind everyone not to be dazzled by the actions of these big institutions. These companies do have advantages in cognition and financial strength, but their strategies and retail investors' survival logic are completely different. They can withstand long-term volatility, smooth out costs through DCA, and even allocate to derivative assets like ETH and FIL to diversify risk.

What’s more worth paying attention to is the signal behind this: institutional multi-chain allocation has shifted from experimentation to normalcy, indicating that in the eyes of the mainstream, crypto assets are no longer just gambling tools but a genuine asset class. The question is, can retail investors do the same?

Honestly, most people are easily tempted by FOMO to chase after air coins, even when holding Bitcoin alone. Seeing institutions allocate multi-chain assets, they tend to follow suit, and in the end, most will likely become bagholders. The true defensive strategy is: don’t touch an asset until you understand it thoroughly; don’t go all-in until you can bear the losses. The game rules for institutions are different from ours, and blindly copying them is easy to fall into traps.