According to public data statistics, global institutions and listed companies are increasingly including Bitcoin as a strategic asset in their financial statements. This is not short-term speculation but a serious long-term allocation.

The data is quite interesting: worldwide, various listed companies, funds, private equity, and sovereign funds have accumulated tens of thousands to millions of BTC. What does this reflect? Institutions are already viewing Bitcoin as a "digital hard asset."

Changes are also happening domestically. Currently, nine companies publicly disclosed holding Bitcoin, including Next Technology Holding, Boya Interactive, Nano Labs, and others. This indicates that Asian capital is also beginning to seriously consider including Bitcoin in corporate balance sheets.

More importantly, there is a shift in the holding structure. When institutions hold a large proportion of the circulating supply, the logic behind Bitcoin's price formation will change — it will no longer be dominated by retail sentiment, but by institutional long-term strategic allocations and corporate reserve trends.

In other words, Bitcoin is evolving from a marginal asset into a core reserve tool for global enterprises and capital systems. This transformation is already underway.