Summary
BlackRock’s iShares Bitcoin Trust ETF (IBIT) holds more BTC than MicroStrategy. The demand for Bitcoin ETFs is surging, with BlackRock’s holdings surpassing MicroStrategy. The market has seen a sharp sell-off after Bitcoin’s price hit a new all-time high.
Key Points
1. BlackRock’s iShares Bitcoin Trust ETF (IBIT) holds more BTC than MicroStrategy, with 196,065 BTC compared to MicroStrategy’s 193,000 BTC.
2. The rapid accumulation of Bitcoin by BlackRock highlights the growing demand for spot Bitcoin ETFs since their launch in January, driving investor enthusiasm and trading activity.
3. Despite the surge in Bitcoin’s price to a new all-time high, a sharp sell-off occurred, leading to a drop in price and liquidation of millions in long and short positions across various crypto exchanges.