Expert: Institutional interest in Bitcoin has weakened

Demand for digital gold from institutional investors has declined, according to Capriole founder Charles Edwards. For the first time in seven months, net purchases fell below the asset's daily supply.

Won't lie, this was the main metric keeping me bullish the last months while every other asset outperformed Bitcoin. The trend could flip tomorrow, next week, or in 2 years. But right now we have 188 treasury companies carrying heavy bags with no business model and a lot less… https://t.co/ECTv3Klbmf

— Charles Edwards (@caprioleio) November 3, 2025

According to him, this indicator has been the main bullish factor in recent months. Edwards noted that the trend supported optimism while other digital currencies outperformed the leading cryptocurrency.

“I won't lie, this was the main metric that kept me bullish. But now we have 188 public companies with heavy [Bitcoin] holdings, no business model, and much less institutional interest,” he wrote.

Edwards added that the current trend could change at any moment. However, the current market situation is one of significant corporate holdings of Bitcoin and declining demand from new major players.

Strategy and new promotions

Strategy, the largest public holder of the first cryptocurrency, has filed to issue 3.5 million euro-denominated STRE preferred shares. The company will use the proceeds for general corporate purposes, including the purchase of Bitcoin.

The par value of one STRE is €100. They provide an annual dividend yield of 10%, with quarterly payments beginning December 31, 2025. If not paid, dividends will accrue at an initial rate of 11% and grow by 100 basis points over the period to a maximum of 18%. The placement is subject to market conditions.

Strategy previously announced the purchase of 397 BTC for approximately $45.6 million. The average purchase price was $114,771. The company now holds 641,205 BTC.

Strategy has acquired 397 BTC for ~$45.6 million at ~$114,771 per bitcoin and has achieved BTC Yield of 26.1% YTD 2025. As of 11/2/2025, we hodl 641,205 $BTC acquired for ~$47.49 billion at ~$74,057 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/yJfoyeNzCm

— Strategy (@Strategy) November 3, 2025

Founded by Michael Saylor, the firm began implementing its Bitcoin strategy in August 2020, investing $250 million of its own funds. Strategy pioneered the so-called digital treasury (DAT) model, using equity and debt to finance cryptocurrency purchases.

Saylor himself expects Bitcoin's price to rise to $150,000 by the end of the year. He believes the asset will reach $1 million within four to eight years.

.@Strategy's @saylor tells @sam_vadas he sees bitcoin hitting $150,000 by year-end.

“In the four to eight year time frame, I think bitcoin goes to a million dollars a coin,” he says, adding that it could “appreciate 29% a year for 21 years” — reaching $21 million.

For more… pic.twitter.com/jdPkIcpCl1

— Schwab Network (@SchwabNetwork) November 3, 2025

The businessman also suggested that with an annual growth rate of 29% over 21 years, the price of the first cryptocurrency could reach $21 million.

At the time of writing, Strategy (MSTR) shares are trading at $264.67 (-1.8% on the day).

Source: Google Finance.