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DAT BTC USD Value

USD value of all DAT BTC

PropertyValue
CategoryDigital Asset Treasuries
UnitUSD
Resolution1d
AssetsBTC
TierBasic
API EndpointGET /v1/dat/aggregate
Fieldtotal_usd_value

Overview​

DAT BTC USD Value represents the total market value of Bitcoin held by all tracked institutional entities, calculated by multiplying total BTC holdings by the current spot price.

This metric provides the dollar-denominated view of institutional Bitcoin exposure, useful for comparing against traditional institutional treasury assets like bonds, gold, and cash reserves.

Formula​

Total USD Value=Total DAT BTC×Pt\text{Total USD Value} = \text{Total DAT BTC} \times P_t

Where PtP_t is the BTC spot price at time tt.

Interpretation​

  • Driven by both accumulation and price: Rising USD value can result from new BTC purchases, BTC price appreciation, or both.
  • Divergence from BTC count: If USD value rises faster than BTC count, price appreciation is the driver. If BTC count rises faster, new accumulation is the driver.
  • Scale context: Total institutional BTC holdings represent a value comparable to the market cap of major S&P 500 companies, and this figure scales with BTC price.
  • Drawdown sensitivity: During bear markets, USD value can drop 50-70% even if BTC holdings remain constant.

Use Cases​

  • Institutional exposure sizing: Compare total institutional BTC value against global institutional cash/bond holdings.
  • Market impact: A large institutional BTC position creates significant demand-side pressure and reduces sell-side liquidity.
  • Risk assessment: Track unrealized P&L of institutional treasury positions during market cycles.
  • Benchmark comparison: Compare against gold ETF AUM, institutional bond holdings, or central bank reserves.

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/dat/aggregate?start_date=2024-01-01&end_date=2024-12-31&limit=365"