BlackRock's IBIT has surpassed MicroStrategy with nearly 198,000 Bitcoin in holdings.

Bitcoin ETFs, excluding Grayscale's GBTC, have amassed assets worth $28 billion.

Institutional demand for Bitcoin is rising, evidenced by over-the-counter platforms seeking additional Bitcoin from public exchanges.

MicroStrategy holds 193,000 BTC and aims to increase its Bitcoin assets through a $600 million debt offering.

MicroStrategy's CEO Michael Saylor views Bitcoin as a strategic asset, with no intentions to sell and considers it superior to other asset classes.