Date: 2024-02-28T21:10:24Z Creator: Bitfolio Academy
The Bitcoin ETFs went on a tear this week, up 19% since Monday. On Monday, MicroStrategy announced that it bought 3,000 more Bitcoin, and this has led to euphoric buying and a supply squeeze! The value MicroStrategy’s Bitcoin holdings is almost $10 billion! Listen to a recent CNBC interview.
I think a lot of this is just indicative of the popularity of Bitcoin as an asset class it’s it’s now the world’s most popular investment asset it’s novel it’s digital it’s Global it’s Unique and it’s uncorrelated to traditional risk assets because it doesn’t come with exposure to Any Given country current company quarterly result product cycle competitor not to weather not to war not to an employee base or supply chain and so that makes it a natural addition to the portfolio of a responsible investor there’s 10 years of pent up demand people have been waiting for these ETFs and and finally mainstream investors are able to access Bitcoin and I think that’s what’s driving The Surge of capital in the asset class. Now people are beginning to realize that there’s 10 times as much demand for Bitcoin coming in through these ETFs as there is Supply coming from the natural sellers who are the miners.
Let me know in the comments. 🤔
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