2024

Bitcoin

<div class="coinjournal">
 <ul>
 <li>Bitcoin hits $54,900 for first time since 2021 as BlackRock’s IBIT trades $1 billion shares.</li>
 <li>BTC price is rising amid analyst predictions for a halving explosion.</li>
 </ul>
 Bitcoin is eyeing a pre-halving breakout as its price jumped above $54,900 for the first time since November 2021. 
 On crypto exchange Coinbase, Bitcoin price reached highs of $54,980. The more than 6% gains pushed the benchmark cryptocurrency’s market cap to over $1.06 trillion.
 <img decoding="async" class="alignnone size-full wp-image-187886" src="https://cdn.thebittimes.com/images/2024/02/27/bd1895ba123bb3eae19f7a963a039f0b.webp" alt="" width="1074" height="545">
 <h2 id="span-style-font-weight-400-btc-breaks-above-54k-as-ibit-trades-1-billion-etf-shares-span">BTC breaks above $54k as IBIT trades $1 billion ETF shares</h2>
 In the ETF market, BlackRock’s iShares Bitcoin Trust ($IBIT) traded over $1 billion and analysts are saying the momentum is set to fuel further gains for <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a> price. Bloomberg ETF analyst shared that the performance ranked $IBIT 11th amongst all ETFs.
 “MILESTONE $IBIT has traded $1b worth of shares today so far.. which ranks it 11th among all ETFs (Top 0.3%) and Top 25 among stocks. Insane number for newbie ETF (esp one w ten competitors). $1b/day is big boy level volume, enough for (even big) institutional consideration,” Balchunas posted on X.
 According to entrepreneur and investor Anthony Pompliano, “Bitcoin is a runaway train with no brakes for as long as ETF inflows dwarf the bitcoin produced by the network.”
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 Bitcoin is a runaway train with no brakes for as long as ETF inflows dwarf the bitcoin produced by the network.
 The game has changed.
 Keep your head on a swivel out there.
 — Pomp 🌪 (@APompliano) February 26, 2024
 </blockquote>
 
 With the Bitcoin halving coming up, this number of <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a> mined will be halved, creating a supply shock that could catapult <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a> price to prices very few imagined a few years back.
 With the countdown to Bitcoin halving roughly 52 days out, the breakout performance for <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a> on Monday has the market buzzing.
 Earlier in the day, Bitcoin price broke above $53k as MicroStrategy announced it had acquired an additional 3,000 <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a>. Purchased for $155 million, the fresh buy saw the company’s Bitcoin portfolio hit 193,000 <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a>.
 Michael Saylor revealed that the company bought bitcoin at the average price of $51,813.
 Bitcoin traded around $54,331 at 3.30 pm ET on Monday. The benchmark crypto could break above $55,000 to eye $60,000 before the halving.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-hits-54-900-as-blackrock-s-ibit-trades-1b-tbt80858.html">https://thebittimes.com/bitcoin-hits-54-900-as-blackrock-s-ibit-trades-1b-tbt80858.html</a>

Bitcoin hits $54,900 as BlackRock’s IBIT trades $1B

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