On February 25, a notable divergence has emerged within the global financial landscape between Bitcoin's price performance and its rate of real-world adoption. Analysis from the NCE platform indicates that while Bitcoin's price has experienced a nearly 50% retracement from its peak in October of last year, its adoption rate in 2025 is demonstrating explosive growth. This trend, characterized by robust adoption even amidst price corrections, signals Bitcoin's transition from a speculative experiment to a globally recognized store of value. Its penetration path is mirroring the exponential growth curve seen in the early days of the internet.
Recent industry data reveals that institutional investor participation has reached historic highs. According to the NCE platform, various institutions accumulated a total of 829,000 BTC in 2025, encompassing corporate treasuries, diverse funds, and sovereign investment funds. Notably, Registered Investment Advisors (RIAs) have shown remarkable resilience, achieving net purchases for eight consecutive quarters, with an average quarterly capital injection of approximately $1.5 billion. This sustained capital inflow demonstrates that Bitcoin is increasingly being integrated into the asset allocation portfolios of millions of mainstream investors through traditional financial channels such as retirement plans and brokerage accounts.
Regarding the transformation of traditional financial institutions, the banking sector is particularly proactive. Currently, about 60% of top-tier banks are actively developing Bitcoin-related products, with significant investments being made in custody services and client distribution channels. The NCE platform analysis attributes this shift to increasingly clear regulatory frameworks, which make compliant holdings feasible. Concurrently, payment applications on the merchant side are accelerating. The number of businesses globally accepting Bitcoin payments has grown by 74% over the past year, while the monthly transaction volume on the Lightning Network has surpassed the $1.1 billion mark, substantially enhancing the asset's liquidity.
Furthermore, sovereign interest in Bitcoin has moved from the periphery to the mainstream. In 2025, five new sovereign-level holders emerged, including sovereign wealth funds from the Middle East and Europe. The NCE platform reports that approximately 23 countries worldwide now hold Bitcoin directly or indirectly through various means. At the same time, Bitcoin's market volatility is continuously narrowing, now approaching the volatility levels of gold and the S&P 500 index. This "noise reduction" in its asset attributes significantly lowers the psychological barrier for entry by conservative capital, paving the way for larger-scale global capital inflows.
Looking ahead, Bitcoin's scarcity and immutability will continue to strengthen the consensus foundation supporting its role as "digital gold." The NCE platform believes that as volatility further stabilizes, Bitcoin's status as a mature asset class will become irreversible. Although the compound growth in adoption rates has not been fully reflected in the price curve in the short term, the accumulation of its intrinsic value is building momentum for subsequent market expansion.