Satoshi’s Bitcoin dominance threatened as ETFs surge, nearing milestone of surpassing his legendary stash- What's next?
Bitcoin’s 160% rise in 2024, now worth $1.91 trillion, challenged gold’s market dominance.In fact, as BTC’s price continues to inch closer to the $100K mark, the momentum is mirrored in the ETF market., Bitcoin ETFs saw an impressive $490.3 million in inflows on the 22nd of November, marking a striking continuation of the upward trend.
In between the flood of Bitcoin ETF inflows, BlackRock’s IBIT has emerged as the front-runner, recording an impressive $513.2 million on the 22nd of November and $608.4 million on the 21st of November.However, not all Bitcoin ETFs are seeing growth, as Grayscale’s GBTC experienced outflows, losing $67.1 million on the 22nd of November.
Therefore, if Nakamoto were a living, single individual, these vast holdings would place them among the wealthiest people in the world.Needless to say, Bitcoin’s remarkable performance in 2024 has solidified its position as a dominant force in the financial landscape.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin ETFs could ‘maybe triple gold ETFs,’ explains analystBloomberg’s ETF analyst predicts Bitcoin ETFs will surpass gold ETFs in growth, citing BTC's appeal as a volatile and high-beta investment.
Read more »
Bitcoin ETF inflows soar as price nears $90KBitcoin shatters records following Trump’s victory, with Bitcoin ETFs, MicroStrategy, and Coinbase reaching unprecedented highs.
Read more »
Bitcoin stocks drive $70B surge: A game-changer for BTC?This milestone underscores growing institutional confidence in Bitcoin stocks, with experts like Michael Saylor highlighting ETFs...
Read more »
Bitcoin’s price hike follows surge in inflows; Here’s why it’s ‘a bit odd’Bitcoin reaches $73K as ETFs see record inflows, fueling FOMO speculations. Can Bitcoin ETFs soon outpace Satoshi's legendary holdings?
Read more »
Bitcoin ETFs could surpass Satoshi’s holdings ‘in less than two weeks’Bitcoin ETFs surged past 1M BTC amid record inflows. BlackRock’s 12K BTC purchase accelerated institutional dominance while all the...
Read more »
Emory University invests in Bitcoin ETFs as institutional demand reaches new peakThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »