Based on the asset monitoring data of institutions as of January 2026, here is the estimate of the strength of "Big Money" that currently stands behind #TAO . This is the reason why the price of $229 is actually the zone where you are "competing for goods" with the giants:
1. Grayscale Bittensor Trust
Grayscale is not just an "ACC"; they are the main flagship holder for #TAO in the American market.
Estimated Ownership: Grayscale currently holds a significant portion through Grayscale Bittensor Trust and Grayscale Decentralized AI Fund.
Their Strategy: Grayscale is known as a true "HODLER". They rarely sell large amounts of assets in the spot market; instead, they continue to add to their holdings every time there is a correction (like at the price of $229) for their institutional clients.
2. Other Institutions & Venture Capitals (VC)
Not just Grayscale, sir. There are several other big names that have entered the Bittensor ecosystem:
Polychain Capital & Digital Currency Group (DCG): They are early investors holding millions of dollars in TAO. They see TAO as the "Bitcoin of AI".
Pantera Capital: One of the oldest crypto venture capitals has also allocated large funds to the decentralized AI sector, where TAO is their number one asset.
3. Why is This Data Important at the Price of $229?
Let's calculate the logic:
Total Supply of TAO: There are only 21 million coins (just like Bitcoin).
Coins that are "Locked": Currently, about 80% - 90% of the circulating TAO is being staked by institutions and large holders to earn rewards.
Conclusion: The amount of TAO that can actually be bought in the market (Exchange) is VERY LITTLE.
Meaning: Once institutions like Grayscale or even the government (through strategic investment funds) add just a little purchase in mid-2026, the price will explode very quickly because the goods are scarce.
