- MicroStrategy made its greatest Bitcoin purchase ever in Could, grabbing 7,390 BTC for $764.9M, even whereas going through a lawsuit.
- BlackRock and Constancy added over $494M in BTC through ETFs on the identical day, signaling deep institutional confidence.
- With ETFs surging, whales hoarding, and miners accumulating, massive gamers clearly count on Bitcoin to maintain climbing.
In mid-Could 2025, Michael Saylor’s MicroStrategy doubled down on Bitcoin—exhausting. The agency disclosed a $764.9 million purchase, including 7,390 BTC at a median value of $103,500. This wasn’t simply one other buy; it was the biggest single purchase within the firm’s historical past, bringing their complete holdings to over 576,000 BTC ($59 billion). The transfer got here regardless of an lively lawsuit over the agency’s Bitcoin technique, displaying Saylor’s conviction hasn’t wavered. The acquisition was funded by means of capital raises, together with inventory gross sales and most well-liked shares. The timing? Bitcoin had been holding above $100K for 2 weeks—MicroStrategy doubtless sees extra upside.
BlackRock Provides $306M through ETF Inflows
The world’s largest asset supervisor didn’t keep quiet both. On Could 19, BlackRock’s iShares Bitcoin Belief (IBIT) introduced in $306 million in inflows—the very best of any ETF that day. That equated to roughly 2,900 BTC bought by means of the ETF, pushing IBIT’s belongings to almost $67 billion. Since launch in 2024, the fund has turn out to be a monster, constantly pulling in over $100M per day in latest weeks. BlackRock hasn’t issued press releases—ETF creations are automated—however the influx quantity speaks for itself. Their purchasers (pensions, hedge funds, and allocators) are clearly growing their publicity.
Constancy Quietly Joins In
Constancy’s Smart Origin Bitcoin Belief (FBTC) additionally noticed a $188 million bump on the identical day. That’s one other 1,800+ BTC added, making it the second-largest U.S. Bitcoin ETF after BlackRock’s. This wasn’t a one-off—ARK Make investments additionally added $155M that day. These flows weren’t retail FOMO; they have been methodical and institution-driven. The truth that Constancy added so aggressively at six-figure BTC ranges says so much: massive cash believes this cycle isn’t completed.
So, Why Now?
Just a few issues are converging. First, ETF flows are hitting data. Could 19 noticed $667 million throughout all U.S. spot BTC ETFs—displaying broad institutional curiosity. On the identical time, on-chain information reveals whales pulling Bitcoin off exchanges. Glassnode’s accumulation scores are maxed out, and trade reserves have dropped 8% since April. This habits traditionally precedes value surges.
Even Bitcoin miners have flipped. For the primary time since 2023, miners are accumulating fairly than promoting. Over 2,700 BTC have been added to miner wallets from mid-April to mid-Could. Given rising manufacturing prices ($82K–$137K per BTC), it’s an indication they count on a lot greater costs.
In the meantime, the macro backdrop helps. The Fed held charges at 4.25–4.50% and flagged renewed inflation dangers. Bitcoin—as a fixed-supply asset—is benefiting from that narrative. And with the FDIC and Fed softening crypto steerage for banks in April, establishments are extra comfy stepping into massive.
Remaining Thought: A Acquainted Sample
We’ve seen this earlier than. Institutional accumulation tends to sign the mid-phase of a bull market. That was the case in 2020–2021, and once more now in 2024–2025 with spot ETFs. The distinction? The size is way bigger this time. ETFs are locking up BTC. Whales are hoarding. Miners aren’t promoting. And establishments aren’t ready for the blow-off prime—they’re shopping for earlier than it.
If historical past is any information, that type of conviction isn’t simply noise. It’s gasoline.