Bitcoin Surges 47% in Q3 — "An Asset That Rises Forever" vs. "Spot Demand Needed"

Bitcoin surged more than 47% in the third quarter alone, recording its strongest quarterly rally since President Donald Trump's re-election. The CEO of digital asset custodian BitGo emphasized that Wall Street financial firms' digital asset investments have already become an irreversible trend, while Bitfinex analysts pointed out that spot buying pressure must strengthen further for additional gains.

BitGo co-founder and CEO Mike Belshe said in an interview with Korea Economy TV: "BlackRock has been on this path for five years, Fidelity for ten years. Charles Schwab, Morgan Stanley, and Citibank are all making significant investments as well." He added, "I don't think any of them will scale back. I believe we've passed a certain inflection point now."

Institutional capital inflows are also confirmed by actual figures. Bitcoin-holding company Strategy disclosed late last month that it purchased an additional 1,665 Bitcoin. Bitcoin spot exchange-traded funds (ETFs) recorded net inflows of approximately ₩4.2 trillion ($3.1 billion) over nine consecutive trading days.

CEO Belshe maintained his optimism from a long-term perspective as well. "Over a long time horizon, Bitcoin is an asset that rises forever, and we believe this thesis still holds true," he said. He added, "In 2026, enormous amounts of capital flowed into the AI industry as attention focused heavily on AI, and I expect some of that capital is now rotating back into digital assets."