农历二月二，龙抬头。
- BTC price blasts through $70K — 5 things to know in Bitcoin this week
- Bitcoin Halving: What’s different this time around?
- Bitcoin buying advised as US enters the ‘looting-the-treasury phase’
- Large corporations, major wirehouses gearing up to buy Bitcoin: Bitwise
BTC price blasts through $70K — 5 things to know in Bitcoin this week
potential BTC price volatility catalysts to come.
Bitcoin has hit a new all-time high before its next halving — a unique event in its history.
Bitcoin's most convicted holders are still holding at unrealized profit levels that usually occur well before the cycle peak.
https://cointelegraph.com/news/btc-price-blasts-through-70k-5-things-bitcoin-this-week
Bitcoin Halving: What’s different this time around?
Bitcoin’s supply-demand dynamic will be even more favorable than previous halvings in 2012, 2016 and 2020 — thanks to the recent launch of spot Bitcoin exchange-traded funds (ETFs) in the United States.
This halving event will occur at block 840,000 — expected to take place on April 20 — which will see mining rewards reduced from 6.25 BTC ($418,800) to 3.125 BTC ($209,400).
Spot Bitcoin ETF issuers are taking in 2,450 BTC each day while only 900 BTC are being mined.
“This number will fall to 450 BTC post-halving in late April [where the ETFs will be] sweeping up BTC at a rate five times higher than BTC's post-halving supply growth. This huge imbalance between supply and demand will lead to a continuous, but volatile, upward grind of the BTC price.”
How can this supply-demand imbalance not lead to a massive, continuous bitcoin price increase?
This will multiply Bitcoin’s demand at a time when the halving will reduce Bitcoin’s supply.
Bitcoin’s hashrate is five times higher than it was at the last halving.
“It now requires five times more computing power and associated electricity supply, electrical infrastructure, and mining hardware to attack the network.”
The network was already tremendously secure at the time of the 2020 halving, but now it is basically impenetrable
This geographic decentralization is continuing as miners migrate to Africa and Latin America to take advantage of cheaper electricity prices.
https://cointelegraph.com/news/bitcoin-halving-different-this-time
Bitcoin buying advised as US enters the ‘looting-the-treasury phase’
“We’re in the looting-the-treasury phase of imperial collapse,” ~ entrepreneur and angel investor Balaji Srinivasan, the former Coinbase chief technology officer
as financial reckoning approaches, the “ravenous state” may consider confiscating private assets.
a handful of examples, such as the seizing of assets from protesting Canadian truckers, freezing Russian assets and the “weaponization of Delaware against Elon [Musk] and New York against [Donald] Trump.”
“Fortunately, we have Bitcoin, which isn’t dependent on the state and can’t easily be seized.”
https://cointelegraph.com/news/bitcoin-buying-advised-us-enters-looting-the-treasury-phase
Large corporations, major wirehouses gearing up to buy Bitcoin: Bitwise
On March 8, BlackRock’s Bitcoin ETF surpassed business intelligence firm MicroStrategy in terms of total Bitcoin held, touting 197,943 BTC on its balance sheet, worth over $13.5 billion at current prices.
Institutions representing “trillions of dollars in assets” are preparing to buy into spot Bitcoin (BTC) exchange-traded funds (ETFs) by the end of June, said crypto-native asset manager Bitwise.
In a March 9 investment memo sent out to investors, Bitwise chief investment officer Matt Hougan said Bitwise was involved in “serious due diligence” discussions with large corporations, major wirehouses and institutional consultants looking to increase their exposure to Bitcoin in the coming months.
“Just as important as who is buying today is who will be buying tomorrow,” ~ Bitwise chief investment officer Matt Hougan
https://cointelegraph.com/news/large-corporations-wirehouses-prepare-bitcoin-etf-bitwise
Who’s Buying Bitcoin ETFs (As Far As We Know)
— Bitwise (@BitwiseInvest) March 8, 2024
An excerpt from Bitwise CIO @Matt_Hougan's weekly memo to investment professionals.
Bitcoin ETFs have attracted more than $7.5 billion in net new assets since launching in the U.S. on January 11, making many of them among the most… pic.twitter.com/jyIZHUsbn6
... no major wirehouse — names such as Morgan Stanley, Merryl Lynch or Bank of America — has yet joined the institutional push.
https://cointelegraph.com/news/bitcoin-bull-cathie-wood-ark-invest-btc-price-target-1m
