Bitcoin ETF

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrocks-bitcoin-etf-surpasses-microstrategys-holdings-2/" data-wpel-link="internal">BlackRock’s Bitcoin ETF Surpasses MicroStrategy’s Holdings</a> 
BlackRock’s spot <a href="https://coin-turk.com/kripto-para-piyasasinin-toplam-degeri-1-trilyon-dolarin-altina-geriledi" data-wpel-link="internal">Bitcoin</a> exchange-traded fund (ETF) has managed to surpass MicroStrategy’s total <a href="https://en.coin-turk.com/spot-bitcoin-etf-issuers-now-on-regular-monitoring-list/" data-wpel-link="internal">Bitcoin</a> holdings. According to data compiled by BitMEX Research, as of March 8, BlackRock’s IBIT holds 197,943 Bitcoins valued at over $13.5 billion, approximately 40 trading sessions after the Securities and Exchange Commission approved nine new funds on January 10. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-etf-funds">What’s Happening with ETF Funds?</h2> 
Excluding Grayscale’s GBTC, the newly launched Bitcoin ETF funds, along with institutional demand, continue to drive the cryptocurrency’s value up, collectively holding assets worth $28 billion. On March 8, the price of Bitcoin surpassed the $70,000 mark for the first time. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325533 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/bitmex.png" alt="" width="1090" height="1550"> 
Reports published through X indicate that the circulating supply of Bitcoin on over-the-counter (OTC) trade platforms is depleting, leading to reliance on public exchanges to fulfill orders. OTC platforms typically serve large-volume investors such as institutional investors. 
Although not an ETF issuer, technology firm MicroStrategy holds a portfolio of 193,000 Bitcoins as part of its corporate treasury strategy. The software company employs a leveraged business strategy using hedging to finance operations and investments. MicroStrategy is doubling down on its Bitcoin strategy, recently announcing plans for a debt offering of over $600 million to bolster its Bitcoin reserves. 
<h2 class="p1" style="text-align: justify" id="microstrategy-and-its-bitcoin-move">MicroStrategy and Its Bitcoin Move</h2> 
MicroStrategy’s Bitcoin-centric strategy has led to its shares being branded as a leveraged Bitcoin ETF fund. The strategy has proven effective so far, with MSTR showing a 642% increase over the last 12 months, significantly outpacing Bitcoin’s 244% gain in the same period. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325530 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/mstr-grafik.webp" alt="" width="1398" height="876"> 
MicroStrategy’s CEO Michael Saylor has no plans to sell the Bitcoin reserves, and in a February 20 interview with Bloomberg, the prominent executive commented: 
<blockquote> 
 “I will keep buying the peak forever. That’s the exit strategy for Bitcoin.” 
</blockquote> 
According to the executive, the cryptocurrency is technically superior to gold, the S&amp;P 500, and real estate, even though these three asset classes have much larger market values than Bitcoin: 
<blockquote> 
 “Bitcoin is technically superior to these asset classes. With this in mind, there’s no reason to sell the winner and buy the loser.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrocks-bitcoin-etf-surpasses-microstrategys-holdings-2/" data-wpel-link="internal">BlackRock’s Bitcoin ETF Surpasses MicroStrategy’s Holdings</a></h5>

BlackRock’s Bitcoin ETF Surpasses MicroStrategy’s Holdings

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