Posted 3/9/2024, 6:00:00 PM
BlackRock's Spot Bitcoin ETF Surpasses MicroStrategy's Holdings, Fueling New Price Highs and Volatility
- BlackRock's Bitcoin Trust ETF (IBIT) now holds 196,065 BTC, surpassing MicroStrategy's 193,000 BTC
- IBIT has seen significant demand since launching in January as a spot Bitcoin ETF
- Pent-up demand for spot Bitcoin ETFs is driving market enthusiasm and price increases
- All spot Bitcoin ETFs collectively hold 4% of Bitcoin's total circulating supply
- Bitcoin hit an all-time high price over $69K, but then dropped 6% shortly after, liquidating millions in leveraged positions
