<ul data-eligibleForWebStory="false"><li>Fund manager Jeff Dyment argues fears of fading institutional Bitcoin demand are overblown and miss the 'bigger picture.'</li><li>Institutional BTC buying is a 'cyclical wave,' with 51 new corporate treasuries established in H1 2025 alone.</li><li>Options market data indicates whales are acquiring upside exposure by purchasing September $130K BTC calls.</li><li>Dyment suggests institutional Bitcoin adoption is on the rise despite short-term fluctuations, citing increased corporate treasuries and growth of spot Bitcoin ETFs as evidence.</li></ul>

Analysis: Institutional BTC adoption is a ‘cyclical wave’, not a linear increase, says Saphira Group’s Dyment

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