Bitcoin

when

BlackRock

As the <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">Bitcoin Halving</a> draws nearer, there is so much optimism about what could happen to Bitcoin’s price in the aftermath of this event. This optimism is further heightened by a recent development showing how <a href="https://bitcoinist.com/bitcoin-ablaze-data-reveals-robust-demand-for-etfs/" rel="nofollow">Bitcoin’s demand</a> far outpaces its supply, which could see the <a href="https://bitcoinist.com/bitcoin-will-hit-100k-this-june-kiyosaki/" rel="nofollow">flagship crypto token</a> rise to as high as $237,000.&nbsp; 
<h2 id="bitcoin-demand-significantly-outpacing-its-demand">Bitcoin Demand Significantly Outpacing Its Demand</h2> 
Crypto analyst Willy Woo mentioned in an X (formerly Twitter) <a href="https://x.com/woonomic/status/1760821645395341766?s=20" rel="nofollow">post</a> that the Bitcoin network receives an average of $607 million of new investor demand daily. On the other hand, this demand is said to be met by a supply of just $46 million daily in terms of Bitcoin mined. This development is more significant considering that the <a href="https://bitcoinist.com/why-bitcoin-halving-could-provide-a-big-boost-to-these-altcoins-growth/" rel="nofollow">Halving</a> is fast approaching.&nbsp; 
This is when <a href="https://bitcoinist.com/gop-leader-alleges-overreach-in-bitcoin-miners/" rel="nofollow">Bitcoin Miners’</a> rewards are <a href="https://bitcoinist.com/bitcoin-supply-shock-57-of-btc-hasnt-moved-2-years/" rel="nofollow">cut in half</a>, acting as a deflationary measure and reducing the rate at which more BTC comes into circulation. This also offers a bullish narrative, as the already insufficient supply will decline further after the Halving event. Once that happens, Bitcoin is expected to become more valuable, with more price increases imminent.&nbsp; 
Industry expert Anthony Pompliano <a href="https://bitcoinist.com/wall-street-gobbles-up-bitcoin-at-a-faster-rate/" rel="nofollow">also highlighted</a> this phenomenon when he noted how institutional investors were gobbling up BTC almost 13x faster than its production rate. He added that the flagship crypto token was bound to see a new all-time high (ATH) if this trend continues.&nbsp; 
This institutional demand for BTC is mainly driven by the Spot Bitcoin ETFs, which were <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" rel="nofollow">approved in January</a>. Due to the impressive demand for these funds, fund issuers like BlackRock have continued to accumulate a significant portion of the BTC supply on a daily. Interestingly, these Bitcoin ETFs were <a href="https://www.newsbtc.com/news/bitcoin/institutional-buyers-of-bitcoin/">reported</a> to hold 3.3% of Bitcoin’s circulating supply earlier in the month.&nbsp; 
<h2 id="bitcoin-s-road-to-237-000">Bitcoin’s Road To $237,000</h2> 
In response to Willy Woo’s post, crypto analyst MacronautBTC made a “conservative” calculation of how Bitcoin’s price could rise to $237,000. Using a multiplier of 3x the Dollar currently flowing into the <a href="https://bitcoinist.com/bitcoin-ordinals-craze-throws-up-challenges-and-opportunities-for-the-network/" rel="nofollow">Bitcoin ecosystem</a>, the analyst mentioned that Bitcoin could see an added market cap of 4.38 trillion.&nbsp; 
He then added the 4.38 trillion to <a href="https://bitcoinist.com/1-trillion-market-cap-achieved-as-bitcoin-hits-51k-dogecoin-faces-a-strong-challenger/" rel="nofollow">Bitcoin’s current market cap</a> of 1 trillion, which sums up to a 5.38 trillion market cap. This potentially puts Bitcoin’s price at $273,000 (a year from now, going by MacronautBTC’s calculation.&nbsp; 
The analyst also highlighted how this price level coincides with predictions made by notable Bitcoin bulls. One of them is Tim Draper, who <a href="https://www.newsbtc.com/news/bitcoin/tim-draper-bullish-bitcoin/">recently stated</a> that BTC will hit $250,000 in 2025.&nbsp; 
At the time of writing, Bitcoin is trading at around $50,900, down almost 2%% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/I6aBd6wY/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1530">

Bitcoin Demands Exceeds Miner Supply By 1,300%, Why A Push To $237,000 Is Possible

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