QCP: Over 240 companies hold a total of 3.45 million BTC, institutional interest continues to rise

Gate News bot message, QCP pointed out in its market analysis that although Israel resumed limited strikes just a few hours after the temporary ceasefire, the financial markets were hardly affected. Traders seem to have digested the solution or have simply stopped waiting. This is not for hedging, but rather a full commitment to taking risks. The Nasdaq 100 index reached an all-time high, while the S&P 500 index closed less than 1% away from its all-time closing price in February 2020. Oil prices have completely returned to pre-conflict levels, further exacerbating the shift in market sentiment.

Institutional interest in Bitcoin continues to grow. Anthony Pompliano's ProCap fund has attracted attention with a $386 million purchase of BTC. This reflects a clear strategy of using Bitcoin as a treasury reserve asset. Since the beginning of June, the number of companies holding BTC on their balance sheets has nearly doubled. Currently, over 240 companies collectively hold 3.45 million BTC. If this trend of accumulation continues, Bitcoin may not only rival gold as a macro hedging tool but could also compete with it in terms of total market capitalization.

However, geopolitics remains an ever-present undercurrent.

European defense officials have warned that armed conflict could break out within five years, as concerns grow about potential flashpoints between NATO and Russia. Russia is significantly ramping up military production, far exceeding what is needed for the war in Ukraine, while also modernizing nuclear infrastructure in Kaliningrad and strengthening defenses at western military bases. In response, NATO allies are considering raising defense spending to 3.5% of GDP. All eyes will be on The Hague, where Donald Trump will attend the NATO summit and may reiterate support for Article 5 of the Treaty.

In this environment, the traditional risk premium is shifting from hedging mechanisms to benchmark assumptions. With the interplay of macroeconomic, military, and monetary policies, the market's tolerance for geopolitical volatility is facing unprecedented challenges.