现在，所有流通比特币中有三分之一由机构投资者持有

在过去的十年中，比特币已悄悄地从基层数字资产转变为机构投资组合中的强大工具。

Bitcoin has quietly shifted from a grassroots digital asset to a powerful tool in institutional portfolios over the past decade.

在过去的十年中，比特币已从基层数字资产转变为机构投资组合中的强大工具。

A recent joint analysis by Gemini and Glassnode sheds light on this evolution, revealing that approximately one-third of all circulating Bitcoin is now held by large entities such as governments, public companies, and financial funds.

Gemini和GlassNode最近的联合分析阐明了这一进化，表明所有流通的比特币中约有三分之一由政府，上市公司和金融基金等大型实体持有。

This concentration, which amounts to around 6.1 million BTC (more than $660 billion), is locked away in centralized treasuries. It stands in stark contrast to Bitcoin's early days and represents a 924% increase in institutional holdings over ten years. These organizations are no longer observing from the sidelines; they are actively positioning Bitcoin as a hedge and long-term asset in their portfolios.

这种集中度约为610万BTC（超过6600亿美元），被锁定在集中的国库中。它与比特币的早期形成鲜明对比，十年来机构持有量增长了924％。这些组织不再从场外观察到。他们正在积极将比特币定位为对冲和长期资产的投资组合。

Recent additions to the institutional fold, including video game retailer GameStop and long-time MicroStrategy, highlight this ongoing shift.

机构折叠的最新添加（包括视频游戏零售商GameStop和长期的MicroStrategy）强调了这一持续的转变。

As traditional finance delves deeper into the digital asset domain, Bitcoin is gradually being viewed less like a speculative token and more like digital gold, an asset that is valued for its scarcity and stability.

随着传统金融对数字资产域的深入研究，比特币逐渐被视为投机式令牌，而更像是数字黄金，这是一种因其稀缺性和稳定性而受到重视的资产。