Wells Fargo's $383 million Bitcoin purchase appears ordinary on the surface, but conceals deeper implications. CZ's perspective hits the mark—while retail investors panic sell, major U.S. institutions are quietly accumulating at the bottom.

This is not an isolated case. Since Bitcoin spot ETFs were approved, financial giants like BlackRock and Fidelity haven't stopped buying. Now even traditional banks are directly participating. What does this reflect? The institutionalization process is deepening. While a single transaction doesn't constitute a heavy position, this signal is worth pondering—the most conservative traditional financial institutions are already treating Bitcoin as an asset allocation option.

What comes next? Large amounts of Bitcoin are locked in by institutions as long-term holdings, directly intensifying supply-demand contradictions and building a solid price floor. More importantly, this adds another piece of ironclad evidence to Bitcoin's status as a legitimate asset class. Long-term capital like pension funds and insurance funds may just be observing, waiting for exactly this kind of signal.

Looking ahead, with institutions continuing to accumulate in 2026 and the halving cycle approaching, Bitcoin's long-term fundamentals are solid from a basic perspective. Bitcoin won't replace gold, but rather erode gold's monetary attributes in the digital world. The two will ultimately occupy their own places in future investment portfolios. The market is currently transitioning from skepticism to divergence. The movements of smart money are still worth close monitoring.