Bitcoin ETF

Bitcoin

Elon Musk

BlackRock

<p>Bitcoin whales are unwilling to sell even as Bitcoin continues its rally to create a new all-time high above $72,000.</p> 
<p>Data from Look Into Bitcoin shows that the number of whale addresses holding more than 1,000 BTC was at 2,107 on March 9, addresses that have steadily grown in tandem with Bitcoin’s price.</p> 
<p><img decoding="async" class="alignnone wp-image-487971" src="https://insidebitcoins.com/wp-content/uploads/2024/03/LookIntoBitcoin-300x195.png" alt="" width="943" height="613" srcset="https://insidebitcoins.com/wp-content/uploads/2024/03/LookIntoBitcoin-300x195.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/LookIntoBitcoin-1024x666.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/LookIntoBitcoin-768x500.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/03/LookIntoBitcoin.png 1182w" sizes="(max-width: 943px) 100vw, 943px"></p> 
<p>(Source: <a href="https://www.lookintobitcoin.com/charts/addresses-greater-than-1000-btc/" target="_blank" rel="noopener">LookIntoBitcoin</a>)</p> 
<p>The addresses with over 1,000 BTC are currently at par with levels last seen before the FTX collapse after hitting an all-time high in February 2021 of 2,489, when the BTC price was at $46,000.</p> 
<p>Data from Santiment also <a href="https://twitter.com/tokenomija/status/1766582693091770871" target="_blank" rel="noopener">shows</a> that the amount of BTC on exchanges has dropped drastically over the past month, indicating unwillingness to sell.</p> 
<h2 id="bitcoin-etfs-accumulate-more-coins">Bitcoin ETFs Accumulate More Coins</h2> 
<p>The BlackRock iShares BTC Trust (IBIT) ETF continues to accumulate more coins.&nbsp;The IBIT ETF currently holds more than 198,000 coins, overtaking in just two months the 193,000 BTC held by MicroStrategy, the largest corporate holder of Bitcoin.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">💫💫BlackRock Bitcoin ETF now holds more BTC than MicroStrategy💫💫</p> 
 <p>According to data from BitMEX, BlackRock's IBIT now has nearly 198,000 Bitcoin, outpacing MicroStrategy’s holdings.</p> 
 <p>💠BlackRock's Bitcoin ETF surpasses MicroStrategy's holdings. Excluding Grayscale's GBTC, new…</p> 
 <p>— Harley Lawrence (@HarleyLawr58926) <a href="https://twitter.com/HarleyLawr58926/status/1766997219440250897?ref_src=twsrc%5Etfw">March 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>But MicroStrategy is not relenting in its Bitcoin purchases, and recently announced a <a href="https://insidebitcoins.com/news/microstrategy-stock-plunges-after-announcing-issue-of-600-million-in-convertible-senior-notes-to-buy-more-bitcoin" target="_blank" rel="noopener">convertible notes offering</a> to help it buy more Bitcoin.</p> 
<h2 id="bitcoin-creates-a-new-all-time-high">Bitcoin Creates a New All-Time High</h2> 
<p>Whales continue to show interest in Bitcoin despite the coin pumping to new highs.</p> 
<p>The BTC price traded at a record high $72,562 as of 10.24 a.m EST. The gains come amid growing interest in spot Bitcoin ETFs (exchange-traded funds) and the hype around the upcoming BTC halving in April.</p> 
<h3 id="also-read">Also Read:</h3> 
<ul> 
 <li><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-as-blackrocks-btc-holdings-surpass-michael-saylors-microstrategy-traders-turn-to-this-ico-for-explosive-gains-too-late-to-buy">Bitcoin Price Prediction: As BlackRock’s BTC Holdings Surpass Michael Saylor’s MicroStrategy, Traders Turn To This ICO For Explosive Gains – Too Late To Buy?</a></li> 
 <li><a href="https://insidebitcoins.com/news/blackrock-wants-to-add-spot-bitcoin-etfs-to-its-global-allocation-fund">BlackRock Wants To Add Spot Bitcoin ETFs To Its Global Allocation Fund</a></li> 
 <li><a href="https://insidebitcoins.com/news/elon-musk-companies-spacex-and-tesla-hold-over-1-3-billion-in-bitcoin-arkham-intelligence-says">Elon Musk Companies SpaceX And Tesla Hold Over $1.3 Billion In BTC, Arkham Intelligence Says</a></li> 
</ul> 
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Bitcoin Whales Unwilling To Sell Even As BTC Hits A New All-Time High Above $72,000

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