- BlackRock’s Bitcoin ETF (IBIT) is accumulating a significant amount of BTC supply, with daily inflows surpassing hundreds of millions of dollars.
- The accumulation by BlackRock’s ETF has sparked speculation about how many additional 60-day periods it would need to acquire the next 10% of Bitcoin’s supply.
- Martinez’s analysis reveals that following the 2012 Bitcoin halving, Bitcoin reached its peak within 367 days.
Bitcoin assets held by BlackRock and MicroStrategy are competing with each other: BlackRock collected 200 thousand BTC in a short time!
BlackRock and MicroStrategy’s Bitcoin Holdings Neck and Neck
BlackRock’s Bitcoin ETF (IBIT) is accumulating a significant amount of BTC supply, with daily inflows surpassing hundreds of millions of dollars. According to recent findings, IBIT’s Bitcoin holdings have now surpassed 200,000, reaching the same level as MicroStrategy. Over the past 60 days, BlackRock’s ETF IBIT has accumulated approximately 200,000 Bitcoins, representing a significant portion of the total Bitcoin supply available on all exchanges, accounting for 10%.
The accumulation by BlackRock’s ETF has sparked speculation about how many additional 60-day periods it would need to acquire the next 10% of Bitcoin’s supply. Analysts closely monitor the ongoing accumulation of Bitcoin by institutional investors like BlackRock, as it could potentially lead to a parabolic increase in Bitcoin’s price.
The significant inflow of Bitcoin into IBIT highlights the growing institutional interest in crypto assets and their perceived value as a hedge against traditional market uncertainties. While BlackRock’s Bitcoin holdings are on par with MicroStrategy’s, some crypto enthusiasts note that while MicroStrategy holds all its Bitcoin stock, BlackRock holds it on behalf of its clients.
Meanwhile, MicroStrategy continues to increase its Bitcoin holdings by presenting its latest offer to raise an additional $500 million for convertible notes.
Bitcoin Bull Run Expected in 500 Days
Renowned crypto analyst Ali Martinez delves into historical trends around Bitcoin halvings, shedding light on the durations between halvings and subsequent market peaks. Martinez’s analysis reveals that following the 2012 Bitcoin halving, Bitcoin reached its peak within 367 days. Following the 2016 halving, it took Bitcoin 526 days to reach its market peak. After the latest halving in 2020, Bitcoin took 547 days to reach its peak.
Based on historical data, Martinez suggests that despite potential minor fluctuations in price, observed patterns indicate that the market is still significantly distant from a potential Bitcoin market peak.
According to Bitcoin analyst Willy Woo, daily inflows into Bitcoin are visualized in a representation represented by a 7-day moving average. The dark green area represents inflows from U.S. Spot ETFs. Willy Woo suggests that ETFs are still in their early stages and that institutions and asset management platforms may need several months of thorough review before initiating appropriate allocations.
