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Friday, February 23, 2024
More
    bitcoin
    Bitcoin (BTC) $ 51,074.68
    ethereum
    Ethereum (ETH) $ 2,949.14
    tether
    Tether (USDT) $ 1.00
    bnb
    BNB (BNB) $ 376.07
    usd-coin
    USDC (USDC) $ 1.00
    xrp
    XRP (XRP) $ 0.540174
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.085177
    cardano
    Cardano (ADA) $ 0.590745
    solana
    Solana (SOL) $ 101.21
    matic-network
    Polygon (MATIC) $ 0.998682
    polkadot
    Polkadot (DOT) $ 7.61
    tron
    TRON (TRX) $ 0.13864

    Bitcoin Worth Surges Amid BTC Accumulation By Newly Launched ETFs

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    In accordance with HODL15Capital, a self-described Capital Compounder, 9 newly launched spot Bitcoin ETFs now maintain extra Bitcoins than Michael Saylor’s Microstrategy. In a current publish on X (previously Twitter), HODL15Capital famous that the recognized 9 ETFs bought 216,309 Bitcoins, equal to $10.3 billion in 20 days.

    The brand new spot #Bitcoin ETFs maintain extra $BTC than @saylor ‘s $MSTR

    The 9 new ETFs bought 216,309 Bitcoin (price $10.3 Billion!!!) in simply 20 days 💥$IBIT $FBTC $ARKB $BITB $BRRR $BTCO $HODL $EZBC pic.twitter.com/i8amhqCjWF

    — HODL15Capital 🇺🇸 (@HODL15Capital) February 11, 2024

    HODL15Capital shared a bar chart that displays the BTC bought by the person ETFs since January 11, a day after the U.S. Securities and Change Fee (SEC) permitted them. The shared information reveals that BlackRock’s IBIT and Constancy’s FBTC dominated the Bitcoin purchases. The chart additionally revealed that the BTC bought by the recognized ETFs elevated every day.

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    The reported 216,309 Bitcoins signify the overall BTC purchases made by the ETFs as of February 9, surpassing MicroStrategy’s holdings of 190,000 Bitcoins, based on reviews. The famend property administration firm began shopping for Bitcoins in the course of 2020 after it introduced that it will start placing a few of its money in direction of different property, together with cryptocurrencies.

    Bitcoin worth has displayed two important transition phases because the SEC permitted the spot Bitcoin ETFs. BTC nosedived shortly after an preliminary spike, with the worth dropping from $49,048 on January 11 to $38,505 as of January 23, marking the primary section of the post-ETF worth motion.

    See also  How Will The FOMC Assembly Impression BTC?

    BTCUSD Every day Chart on TradingView

    The value reversed instantly after reaching the $38,505 help, embarking on an upward motion it has sustained till up to now. Bitcoin traded for $48,282 as of submitting this report, based on information from TradingView. It reclaimed the bulling momentum, breaking by means of non permanent resistance and focusing on the January 11 yearly excessive.

    A break above the brand new excessive might see Bitcoin climb above $50,000 for the primary time since December 2021. It might additionally open the best way for larger costs, with a big resistance at $52,000.

    Disclaimer: The knowledge introduced on this article is for informational and academic functions solely. The article doesn’t represent monetary recommendation or recommendation of any type. Coin Version will not be accountable for any losses incurred on account of the utilization of content material, merchandise, or companies talked about. Readers are suggested to train warning earlier than taking any motion associated to the corporate.

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