#机构投资者入场 Analyzing the phenomenon of a large influx of US military personnel into the crypto market, it can be seen that institutional investors are gradually entering. IRS data shows that in 2021, the proportion of cryptocurrency transaction declarations in areas around certain military bases was more than four times the national average. This trend is worth noting and may indicate that broader institutional funds are about to enter.

However, from individual cases, many soldiers seem to lack risk management awareness, with issues such as high leverage and concentrated holdings. This reminds us that even institutional investors may face similar risks when entering emerging markets.

It is recommended to closely monitor the crypto asset allocations of military-related funds and pension institutions, which could serve as important signals for large-scale institutional entry. Additionally, pay attention to regulatory authorities' changing attitudes towards such investment behaviors to preempt potential policy risks.