Bitcoin News Today: Experts Laud Bitcoin Strategy, But Imitation Grows Risky

Experts Say Strategy's Bitcoin Playbook Still Works-But the Replication Window Is Narrowing

Michael Saylor's Strategy, the largest corporate holder of Bitcoin with 640,250 BTC ($71 billion), is signaling potential for another major Bitcoin purchase despite challenges in capital raising. Saylor recently shared a chart highlighting past buys and hinted at the next buy as Bitcoin rebounded above $111,000. The firm's market-to-Net-Asset-Value (mNAV) has fallen to 1.3x, limiting its ability to grow holdings without diluting shareholders. Strategy's last purchase in early October added 220 BTC at an average price of $123,561, funded largely through preferred stock vehicles, according to that report.

The broader market context shows mixed signals. Bitcoin ETFs recorded ETF net inflows of $477 million on October 22, with BlackRock's IBIT leading at $210.9 million. Ethereum ETFs added Ethereum ETF inflows of $141 million, driven by Fidelity's FETH and BlackRock's ETHA. These flows contrast with a recent $19 billion crypto crash in October, which Standard Chartered's Geoff Kendrick sees as a potential catalyst for Bitcoin reaching $200,000 by 2025, despite ongoing ETF inflow stagnation, according to a crypto crash analysis.

Institutional innovation is also reshaping Bitcoin's landscape. Sygnum Bank, a Swiss digital asset bank, announced a multisign custody model for a Bitcoin lending product that allows borrowers to retain control of collateral through distributed key management. This model, set for a 2026 launch, addresses growing demand for transparent collateral structures and could expand institutional participation in Bitcoin-backed loans.

However, regulatory scrutiny looms. The Bank of England is investigating data-center lending tied to AI, warning of financial stability risks if AI valuations collapse. With $6.7 trillion expected to fund AI infrastructure by 2030, the BOE's data-center lending probe highlights potential spillovers into crypto markets. Meanwhile, UK banks have already imposed crypto payment restrictions, complicating institutional exposure to digital assets.

Despite these headwinds, experts argue Strategy's playbook remains viable. Its disciplined accumulation strategy, buying Bitcoin during price rebounds, aligns with historical patterns. Yet, the firm's narrow mNAV cushion and rising competition from ETFs — which now hold 803,287 BTC for BlackRock alone — suggest the window for replicating Strategy's success is shrinking.