Bitcoin Drops Below $90K as National Bank of Canada Makes Surprise Crypto Move

The crypto market took a sharp breather today after weeks of strong momentum. Bitcoin slipped toward $89,605 after almost touching $100,000, while Ethereum cooled to around $3,034 and XRP dipped near $2.03. The weakness rippled across major altcoins as well, with BNB sliding to $884, Solana dropping to $132, and Dogecoin easing to $0.13. 

Despite the red screens, a major move from traditional finance quietly stole the spotlight. The National Bank of Canada, one of the country’s most established financial institutions, has made a significant entry into Bitcoin exposure, but not in the way many expected.

A Major Move Through MicroStrategy

Instead of buying Bitcoin directly, the National Bank of Canada has taken a huge position in MicroStrategy, the publicly traded company famous for holding more Bitcoin than any other corporation. Fresh data from BitcoinTreasuries.NET reveals the bank now owns 1.47 million MicroStrategy shares, a stake valued at roughly $273 million.

This setup gives the bank indirect exposure to Bitcoin because MicroStrategy’s business strategy heavily revolves around acquiring and holding BTC. For a large regulated bank, this approach offers comfort. It avoids the challenges of handling digital wallets, navigating crypto-focused custody rules, or dealing with accounting complexities related to holding actual Bitcoin.

Why This Matters for Traditional Finance

What makes this move stand out is the size. A quarter-billion-dollar position is not a test run; it shows a rising level of confidence in Bitcoin from one of Canada’s biggest financial players.

This type of investment also signals something broader happening in the industry. By stepping into crypto through familiar equity channels, big banks are showing that digital assets are becoming harder to ignore. It also encourages other institutions to consider similar strategies, slowly merging traditional banking frameworks with the fast-changing digital asset economy.

Community Reaction: “MicroStrategy Is Not Bitcoin”

While the move is widely seen as bullish, not everyone is convinced. Crypto analyst Sovereign Swap cautioned that MicroStrategy stock should not be mistaken for actual Bitcoin. The idea is simple: MSTR offers exposure, but it’s still a company, not the asset itself. The comment also hinted that some investors may be choosing this route because local rules or political restrictions limit their ability to buy Bitcoin directly.

FAQs

It’s easier and safer for regulated banks. They avoid crypto custody rules, wallet risks, and complex accounting while still gaining Bitcoin upside through a familiar stock.

No. MicroStrategy is a company holding Bitcoin, so shares track stock performance, not exact Bitcoin price movements.

Large banks investing via stocks show growing institutional interest, signaling Bitcoin is increasingly accepted in mainstream finance.

Yes. Stock price can be affected by company performance or market trends, not just Bitcoin value, adding an extra layer of risk.