Bitcoin

Gold

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/blackrock-fosters-new-highs-in-bitcoin-investment" rel="noopener noreferrer nofollow">BlackRock Fosters New Highs in Bitcoin Investment</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-breakthrough-a-technical-analysis-of-the-cryptocurrencys-recent-surge" rel="noopener noreferrer nofollow">Bitcoin</a>‘s valuation soared past $68,000, with a spike to $69,216, as the week commenced with strong market optimism. <a href="https://en.bitcoinhaber.net/vechains-ascent-a-potential-top-contender-in-the-crypto-world" rel="noopener noreferrer nofollow">Altcoin</a> holders are energized by Bitcoin’s dynamic market performance. BlackRock, acclaimed as the leading asset manager, has since June 2023 reinforced the <a href="https://en.bitcoinhaber.net/the-declining-interest-of-canadians-in-cryptocurrency-investments" rel="noopener noreferrer nofollow">cryptocurrency</a> sector, now dominating the crypto investment domain.</p>
<h2 id="blackrock-boosts-bitcoin-confidence">BlackRock Boosts Bitcoin Confidence</h2>
<p style="text-align: justify">In November 2023, BlackRock launched a spot Bitcoin ETF, fulfilling predictions made months prior. The company’s entry into the crypto market has bolstered trust in Bitcoin among mainstream financial circles. BlackRock’s Bitcoin holdings skyrocketed to 196,065 BTC within two months, outpacing MicroStrategy’s 193,000 BTC stash. The company’s ETF, IBIT, attracted a surge of investor interest since January, multiplying its Bitcoin reserves.</p>
<h2 id="rising-demand-outstrips-gold-inflows">Rising Demand Outstrips Gold Inflows</h2>
<p style="text-align: justify">Grayscale CEO Michael Sonnenshein acknowledges a “suppressed interest” in Bitcoin as demonstrated by the robust demand through ETF investments. On numerous occasions, BlackRock’s daily Bitcoin purchases have exceeded miner output by more than a dozen times. ETF specialist Nate Geraci parallels the last two months of Bitcoin’s demand surge with the historical enthusiasm for gold, noting that the inflow into nine new Bitcoin ETFs eclipsed five years of total inflows into gold ETFs.</p>
<p style="text-align: justify">The trading volume of spot Bitcoin ETFs has crossed the $100 billion mark within two months. BlackRock’s ETF frequently ranks as one of the top choices among all US-based ETFs. Since the ETF’s debut, 4% of Bitcoin’s total supply has been transferred to issuer reserves. With a mere $140 billion in Bitcoin available on centralized exchanges, a supply crunch could intensify given the prevailing trends.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/blackrock-fosters-new-highs-in-bitcoin-investment" rel="noopener noreferrer nofollow">BlackRock Fosters New Highs in Bitcoin Investment</a></h5>

BlackRock Fosters New Highs in Bitcoin Investment

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