The global economy weathered significant turbulence this month, with new tariffs accelerating trade tensions and contributing to a broader equities slump. Despite the turmoil in traditional markets, Bitcoin proved surprisingly resilient—proving its status as a hedge against macroeconomic uncertainty. The upshot: institutional and retail investors alike are seeking greater Bitcoin utility and infrastructure to buffer against volatility.

At Core Ventures, we see an opportunity in alternative hard assets like Gold and Bitcoin, and exposure to these assets with leverage like on chain utility and programmability. Below, we break down the latest data on Bitcoin during this turbulent time, share our latest portfolio news, and explain how we think these developments fit into the bigger picture.

Bitcoin’s Financial Layer: Metrics That Matter

DeFi Growth on Bitcoin

1. The value locked in Bitcoin-based decentralized finance (BTCFi) has surged by more than 2,700% over the past year, potentially transforming Bitcoin from a passive store of value into a productive, yield-bearing asset, according to new research from Binance.
2. Bitcoin Defi is one of the fastest-growing crypto sectors, reaching a total value locked (TVL) of over $8.6 billion.

Source: https://cointelegraph.com/news/bitcoin-demand-skyrocket-2-700-bitcoin-defi-surge

Investment & Portfolio Insights‍

Core Ventures’ portfolio projects are gaining significant momentum, advancing Bitcoin’s utility and expanding DeFi capabilities across multiple ecosystems.

What’s New

1. b14g
   
   • b14g, a standout in the Core Ventures portfolio, has reached over $105M TVL, with 1,200+ BTC and 13M+ CORE staked—placing it among the top 10 #Bitcoin projects by TVL. By leveraging Core blockchain’s dual-staking model, B14g is unlocking real yield for Bitcoin.
     
2. BitFlux
   
   • Entered a strategic partnership with Wrapped BTC, aiming to merge trusted Bitcoin tokenization with next-generation liquidity infrastructure and reshape the future of decentralized finance.
3. BIMA
   
   • BIMA, a DeFi ecosystem, today announced the launch of its mainnet, enabling both professional and retail investors to access permissionless institution-grade yield strategies globally without selling their Bitcoin.
   • BIMA also integrated with Core blockchain last week

Recent Fundraises

• Sats Terminal raised $1.7M to streamline and scale Bitcoin DeFi. The round was led by Coinbase Ventures and Draper Associates, with participation from Draper Dragon, BitcoinFi Accelerator, UTXO Management, Core Ventures, Sats Ventures, Delta Blockchain Fund, Tenzor Capital, and 3Commas Capital.
• Bitcoin-backed lending platform Firefish raised $1.8m seed funding
• Bitcoin DeFi network Arch gets VC Backing

Institutional Adoption Accelerating

The institutional landscape for Bitcoin continues to strengthen despite market fluctuations:

1. A record 3 million+ BTC (nearly 15% of total supply) is now held by institutions, governments, and businesses as of February 2025. This milestone represents unprecedented institutional confidence in Bitcoin as a legitimate asset class.
2. Over 13,000 institutions and 814,000 retail accounts now hold MSTR directly, with an estimated 55 million beneficiaries having indirect exposure through ETFs, mutual funds, pensions, and insurance portfolios. This creates a massive capital pipeline from traditional finance into Bitcoin.
3. The Singapore Exchange (SGX) plans to launch Bitcoin perpetual futures in the second half of 2025, targeting institutional and professional investors. This move validates Bitcoin as an investment-grade asset and puts pressure on other traditional exchanges to offer similar products.
4. 47% of traditional hedge funds now hold digital assets, up from 29% in 2023, reinforcing the trend that institutional crypto investment continues to gain significant traction.
5. Core has exceeded $260 million in dual-staked assets in CORE and BTC —reflecting surging demand for Bitcoin staking and highlighting a major leap toward making BTC more “productive” within DeFi.

These trends and updates indicate accelerating institutional integration of Bitcoin, driven by growing investor confidence, supportive policies, and increased mainstream financial participation.

Bitcoin Is Just Getting Started

Amid broader market headwinds, Bitcoin’s financial ecosystem is proving its staying power. From DeFi and yield strategies to stablecoins and derivatives, BTC is emerging as a global financial base layer. With stock markets facing uncertainty, the need for robust finance is clearer than ever.

At Core Ventures, we’re backing the next wave of innovation on Bitcoin. If you’re working on solutions that enhance Bitcoin’s utility—whether it’s lending, stablecoins, or novel layer-2 applications—we want to hear from you.

Reach out at investments@coredao.org for capital, partnerships, or strategic support. Join our mission to fortify Bitcoin’s standing as a truly global financial system.

That’s it for this month’s Core Ventures roundup. Keep building and let’s push the Bitcoin ecosystem forward—together.

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