Sygnum’s new Bitcoin investor handbook: As Bitcoin reaches new ATH, it tops Visa in transaction volumes, driven by ETF demand

As Bitcoin reaches new ATH’s, Sygnum publishes its new Bitcoin Investor Handbook – a deep-dive into Bitcoin’s fundamentals, market role, key risks and future developments. 

Bitcoin reaches new ATH

“Bitcoin’s rally is being driven by strong fundamentals; institutional accumulation through ETFs, growing government-level exposure, as well as increasing strategic treasury allocations, are all contributing to a tightening supply environment,” says Martin Burgherr, Sygnum Chief Client Officer.

“With greater regulatory clarity emerging—particularly through the GENIUS and CLARITY Acts—we’re seeing renewed confidence among long-term investors. Bitcoin’s narrative as digital gold continues to strengthen, and its dominance reflects a deepening conviction in its role as a macro hedge. At the same time, large-cap altcoins are moving in step, suggesting the market is gearing up for broader momentum. Despite strong inflows, price action remains relatively contained—a sign of growing maturity and more deliberate capital deployment across the space.”

Sygnum Bitcoin Investor handbook – key takeaways: 

Sygnum’s Bitcoin Investor Handbook examines how Bitcoin evolved from a cypherpunk experiment to a tech-driven phenomenon with a multi-dimensional identity. Key handbook takeaways include: 

  • Bitcoin surpasses Visa for transaction volume: Bitcoin’s network processes an estimated USD 20tn annually in transaction volume, compared to around USD 13tn by Visa. This reflects its growing use as a global settlement layer, supported by rising institutional adoption through vehicles like ETFs. 
  • Institutional demand drives Bitcoin supply squeeze: Bitcoin’s liquid supply on exchanges has declined to a near seven-year low. This is driven by strong accumulation from ETFs (now exceeding USD 150bn) and public companies (USD 80 bn), showing persistent institutional appetite. 
  • Long-term holding mentality for BTC dominates: Around 45 percent of Bitcoin’s circulating supply has not moved in three years or more, indicating long-term conviction and low speculative churn among holders. 
  • Bitcoin outscores gold as a store of value: On dimensions such as scarcity, authenticity, divisibility and portability, Bitcoin scores higher than gold. Bitcoin’s decentralised design and capped 21mn supply continue to attract investors seeking alternatives to fiat debasement. 
  • Bitcoin is the most battle-tested blockchain in existence: Bitcoin’s Proof-of-Work protocol has never been compromised in its 16-year history, cementing its place as the most resilient, future-proof blockchain in the industry. 
  • See Bitcoin’s energy use in context: While Bitcoin consumes 0.5 percent of global electricity, this is significantly less than AI and data centres. Its energy footprint is central to its security model and increasingly reliant on underutilised or stranded energy sources. 

Katalin Tischhauser, Sygnum Head of Investment Research and handbook co-author, says: “By cutting through hype and misconceptions, this report provides a clear, research-backed perspective on Bitcoin’s evolution. Our goal is to support informed, long-term investment thinking by understanding Bitcoin’s position within the global financial landscape.” 

Lucas Schweiger, Sygnum Digital Asset Research Manager and handbook co-author, adds: “As Bitcoin becomes increasingly relevant in financial markets worldwide, distinguishing its core adoption trends from speculation and controversy is essential. This report examines the market dynamics and innovations driving Bitcoin’s exciting future trajectory.” 

A guide for institutional investors
Sygnum’s Bitcoin Investor Handbook is tailored for investment professionals who are familiar with managing risk and scarcity, but are seeking an introduction to Bitcoin, written in clear, jargon-free language and backed by research. It covers Bitcoin’s fundamentals, adoption trends, security dynamics, regulatory landscape, and forward-looking innovations such as Bitcoin-native finance, protocol-level yield, and token issuance.

Sygnum’s Bitcoin Investor Handbook is available for download here.

About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. Our team enables this through our institutional-grade security, expert personal service and portfolio of regulated digital asset banking, asset management, tokenization and B2B services.

In Switzerland, Sygnum holds a banking license and has CMS and Major Payment Institution licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg and is registered in Liechtenstein.

We believe that the future has heritage. Our crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between the traditional and digital asset economies that we call Future Finance. To learn more about how Sygnum’s mission and values are shaping this digital asset ecosystem, please visit sygnum.com and follow us on LinkedIn and X.

Media Contact:
Dominic Castley, Chief Marketing Officer
[email protected]

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Disclaimer: The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorisation or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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Disclaimer:

The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorization or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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