比特币（BTC）从加密货币交换中消失，因为公司国库和主权财富基金积累了资产

根据Fidelity Digital Assets的数据，对加密货币交易所的比特币储备已暴跌至260万BTC，这是自2018年11月以来的最低水平。

Bitcoin (BTC) is rapidly disappearing from cryptocurrency exchanges as both corporate treasuries and sovereign wealth funds are accumulating the asset, creating a supply squeeze that could reshape market dynamics.

比特币（BTC）迅速从加密货币交换中消失，因为公司国库和主权财富基金都在积累资产，从而产生了可以重塑市场动态的供应压缩。

This trend, which has been slowly unfolding for months, is gathering pace as institutions increasingly view bitcoin as a hedge against inflation and market volatility.

这种趋势已经慢慢发展了几个月，随着机构越来越多地将比特币视为抵制通货膨胀和市场波动性的对冲。

Fidelity Data Shows Bitcoin Moving to Long-Term Holders at Record Pace

保真度数据显示比特币以创纪录的速度移至长期持有人

Bitcoin reserves on cryptocurrency exchanges have now fallen to 2.6 million BTC, the lowest level since November 2018, according to Fidelity Digital Assets.

根据Fidelity Digital Assets的数据，对加密货币交易所的比特币储备现已下降到260万BTC，这是自2018年11月以来的最低水平。

The firm reports that over 425,000 BTC have moved off exchanges since November 2024, and public companies alone have acquired nearly 350,000 BTC following the U.S. election.

该公司报告说，自2024年11月以来，超过425,000 BTC已撤离交流，仅上市公司就在美国大选后获得了近35万BTC。

"Since the beginning of 2025, these buyers have been acquiring more than 30,000 BTC monthly," the report stated.

报告说：“自2025年初以来，这些买家每月收购30,000多个BTC。”

Fidelity attributes this shift to a strategic move by institutional players to hold bitcoin for the long term.

Fidelity将这一转变归因于机构参与者长期持有比特币的战略举动。

"We anticipate this trend accelerating in the near future with the increasing role cryptocurrencies are playing in corporate treasury strategies," the report stated.

报告说：“我们预计这种趋势在不久的将来会加快加密货币在公司财政策略中的越来越多的作用。”

This aligns with recent reports of sovereign wealth funds quietly accumulating bitcoin as a hedge against U.S. dollar weakness and inflation.

这与最近关于主权财富基金悄然积累比特币的报道相吻合，这是对美元的弱点和通货膨胀的对冲。

The parallel movements reveal a fundamental market transformation. Corporate treasuries are treating bitcoin as a scarce reserve asset rather than a trading instrument.

平行运动揭示了基本的市场转型。公司国库将比特币视为稀缺的储备资产，而不是交易工具。

With continued accumulation happening, bitcoin's migration from exchange wallets to institutional custody solutions may already be entering a new phase of acceleration.

随着持续积累的发生，比特币从交换钱包到机构监护解决方案的迁移可能已经进入了新的加速阶段。

These shifts could reshape bitcoin's market dynamics at the core—tightening supply while elevating its standing as a scarce macro asset in the same realm as gold.

这些转变可以重新设计比特币的市场动态 - 蓄能供应，同时提高其在与黄金相同领域的稀缺宏观资产中提高地位。

As retail investors, high-net-worth individuals, companies, and even nation-states vie for slices of the same finite pie, bitcoins held on exchanges are expected to keep dwindling.

随着散户投资者，高净值个人，公司甚至民族国家都争夺相同有限派的切片，预计在交易所举行的比特币将继续下降。

Still, during price climbs, sellers occasionally flood platforms, causing a temporary uptick in balances.

尽管如此，在价格上涨期间，卖家偶尔会洪水平台，导致余额暂时上升。