Cryptocurrency

Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/blackrocks-bitcoin-etf-overtakes-microstrategy-in-cryptocurrency-holdings" rel="noopener noreferrer nofollow">BlackRock’s Bitcoin ETF Overtakes MicroStrategy in Cryptocurrency Holdings</a><br></p>
<p style="text-align: justify">BlackRock’s <a href="https://en.bitcoinhaber.net/bitcoin-miners-ramp-up-sales-while-market-consolidates" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF), known as IBIT, has recently exceeded the Bitcoin holdings of MicroStrategy, a major technology firm. As per BitMEX Research’s latest data, on March 8, IBIT held a staggering 197,943 Bitcoins, valued at over $13.5 billion, a mere 40 trading days following the Securities and Exchange Commission’s January 10 approval of nine new funds. This milestone underscores the growing interest in <a href="https://en.bitcoinhaber.net/argentinas-government-excludes-cryptocurrency-tax-incentives-from-major-legislative-proposal" rel="noopener noreferrer nofollow">cryptocurrency</a> investment vehicles on Wall Street.</p>
<h2 id="impact-of-institutional-demand-on-crypto-markets">Impact of Institutional Demand on Crypto Markets</h2>
<p style="text-align: justify">Newly introduced Bitcoin ETFs are capturing significant attention, with institutional appetite contributing to a surge in Bitcoin’s valuation. Excluding Grayscale’s Bitcoin Trust (GBTC), these ETFs have amassed $28 billion in assets. The collective interest has helped push Bitcoin’s price over the $70,000 threshold for the first time on March 8.</p>
<p style="text-align: justify">A shift in market dynamics has been noted, where over-the-counter (OTC) platforms—typically favored by high-volume traders—are witnessing a dwindling Bitcoin supply. This has led to an increased reliance on public exchanges to meet purchase demands.</p>
<h2 id="microstrategy-s-aggressive-bitcoin-investment-strategy">MicroStrategy’s Aggressive Bitcoin Investment Strategy</h2>
<p style="text-align: justify">While not an ETF issuer, MicroStrategy has made a significant mark in the cryptocurrency space by incorporating 193,000 Bitcoins into its corporate treasury strategy. The company leverages Bitcoin to hedge its operations and investments and recently announced a debt offering exceeding $600 million to further increase its Bitcoin portfolio. This aggressive tactic has seen their stock likened to a leveraged Bitcoin ETF fund.</p>
<p style="text-align: justify">MicroStrategy’s shares have surged 642% in the past year, dwarfing Bitcoin’s 244% rise, thanks to its Bitcoin-focused approach. CEO Michael Saylor, a vocal advocate for Bitcoin, insists on holding onto the cryptocurrency, touting its technical advantages over traditional assets like gold, the S&amp;P 500, and real estate. He dismisses the notion of selling the “winner” in favor of the “loser,” signifying his long-term commitment to Bitcoin’s growth potential.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/blackrocks-bitcoin-etf-overtakes-microstrategy-in-cryptocurrency-holdings" rel="noopener noreferrer nofollow">BlackRock’s Bitcoin ETF Overtakes MicroStrategy in Cryptocurrency Holdings</a></h5>

BlackRock’s Bitcoin ETF Overtakes MicroStrategy in Cryptocurrency Holdings

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