Wall Street’s Bitcoin Buying Frenzy: Public Companies Hoarding More Than Miners Produce

While Wall Street suits were still figuring out how to spell “cryptocurrency,” BlackRock’s Bitcoin ETF just smashed through $70 billion in assets faster than any fund in history. IBIT hit that milestone in 341 trading days. The gold ETF? Took nearly five times longer. That’s not a typo.

The numbers are ridiculous. BlackRock’s fund now holds 661,457 Bitcoin. That’s more than Binance. More than Michael Saylor, the guy who literally bet his company on Bitcoin. Think about that for a second. A traditional finance giant is hoarding more Bitcoin than the world’s largest crypto exchange. The iShares Bitcoin Trust reached $10 billion in assets faster than any ETF on record.

Meanwhile, Bitcoin’s price keeps climbing. It hit $107,645 in early June 2025. Tom Lee from Fundstrat thinks it’ll reach $250,000 this year. That’s a 150% gain from when he made the prediction. Maybe he’s smoking something. Maybe he’s right. Who knows anymore.

Bitcoin soars past $107,000 while Tom Lee predicts $250,000 – absolute madness or inevitable destiny?

Here’s what’s wild: 28% of American adults now own crypto. That’s 65 million people. Double what it was three years ago. Another 14% plan to buy in 2025. Even crazier? Two-thirds of current holders want to buy more. The appetite seems endless.

Trump’s back in office, and 60% of crypto-aware adults think values will rise during his term. Nearly half believe he’ll push mainstream adoption. The irony isn’t lost on anyone who remembers his first-term crypto skepticism.

But it’s not all moonshots and Lambos. Four in ten crypto owners still don’t trust the technology’s security. One in five struggled to access their funds on exchanges. That’s terrifying when you’re dealing with real money. Blockstream CEO Adam Back warns that holding 90% in ETFs could be risky since many investors don’t understand wallet configuration or private key management.

The institutional money keeps pouring in. Daily flows from Bitcoin ETFs are tracked like essential signs. Fidelity’s fund, Grayscale’s offerings – they’re all seeing massive inflows. Wall Street discovered Bitcoin could be packaged, regulated, and sold to traditional investors. Now they can’t get enough.

The miners can barely keep up with demand. These public companies are vacuuming up Bitcoin faster than it’s being produced. Supply and demand economics 101. You do the math.