The cryptocurrency market experienced a slight correction today after several weeks of strong growth. Bitcoin slipped to $89,605 after nearly reaching the $100,000 mark, while Ethereum cooled down to about $3,034 and XRP fell to nearly $2.03. The weakness also spread to major altcoins, with BNB dropping to $884, Solana falling to $132, and Dogecoin decreasing to $0.13.
Despite the red barriers, a significant move from the traditional financial sector has quietly attracted attention. The National Bank of Canada, one of the oldest financial institutions in the country, has made considerable progress in engaging with Bitcoin, but not in the way many expected.
A big step forward through MicroStrategy
Instead of buying Bitcoin directly, the Bank of Canada has taken a significant stake in MicroStrategy, the publicly traded company known for holding more Bitcoin than any other company. The latest data from BitcoinTreasuries.NET shows that this bank currently owns 1.47 million shares of MicroStrategy, equivalent to about 273 million dollars.
This setup gives the bank indirect exposure to Bitcoin as MicroStrategy's business strategy primarily revolves around buying and holding BTC. For a heavily regulated large bank, this approach provides convenience. It avoids the challenges of managing digital wallets, complying with cryptocurrency-focused custody rules, or dealing with complex accounting issues related to holding actual Bitcoin.
Why this matters for traditional finance
The highlight of this move is its scale. A position worth 250 million dollars is not an experiment; it shows the growing confidence in Bitcoin from one of the largest financial entities in Canada.
This type of investment also signals that something larger is happening in the industry. By entering the cryptocurrency market through familiar stock investment channels, major banks are showing that digital assets are becoming increasingly hard to ignore. This also encourages other institutions to consider similar strategies, gradually integrating traditional banking frameworks with the rapidly evolving digital asset economy.
Community reaction: “MicroStrategy is not Bitcoin”
Although this move is seen as optimistic by many, not everyone is convinced. Cryptocurrency analyst Sovereign Swap warns that MicroStrategy's stock should not be confused with actual Bitcoin. The idea is quite simple: MSTR provides access, but it remains a company, not the asset itself. This comment also implies that some investors may choose this route due to local regulations or political restrictions limiting their ability to purchase Bitcoin directly.
