Bitcoin just broke $120K & flirting with all time highs
Source: Tradingview
The average american now needs to work nearly two full years to buy a single Bitcoin
Source: Documenting Saylor @saylordocs on X
In-kind creation / redemption has been approved for both spot Bitcoin and spot Ethereum ETFs.
Source: James Seyffart
Bitcoin $BTC price will go up if there are more buyers, says Citi - couldn't agree more...
"A bitcoin is worth what the next person will pay for it," the FT journalist, Bryce Elder, writes. "The same can be said of a lot of assets." Spot on! This is correct and accurate reporting indeed. And that's how investors need to think about markets, whether it's Bitcoin (BTC), shares of Apple (AAPL), or the direction of Gold.
JUST IN:
Fidelity’s Bitcoin ETF has amended its trust agreement to allow in-kind creations and redemptions, meaning shares can be created or redeemed using bitcoin instead of cash, pending regulatory approval. Source: @BitcoinNewsCom
An update by PlanB
Gold market cap is ~$20T Bitcoin market cap is ~$2T So, gold is worth 10x bitcoin Gold scarcity (stock-to-flow ratio) is ~60 Bitcoin scarcity is ~120 So, bitcoin is 2x scarcer than gold
BREAKING: The S&P 500 is down 85% in Bitcoin terms since 2020.
Source: Bitcoin Archive @BTC_Archive
Bitcoin ETF Flows are still 2x the flows from MSTR and other Bitcoin Treasury companies.
If nothing changes, these together will generate $50 billion in new demand for BTC (without taking into account new bitcoin treasury companies being created, sovereign demand, new institutional demand, etc.) We now the supply variable in the equation. What we do NOT know is how much the whales will offload their bitcoin as the price keeps moving higher. But net net it looks like the supply-demand context remains rather favourable... Source chart: Fred Krueger
