Connect with us

Hi, what are you looking for?


Bitcoin Nears $43K: ETFs Soar & MicroStrategy Buys Big

Bitcoin Nears $43K: ETFs Soar & MicroStrategy Buys Big

Bitcoin teeters near $43,000 amid BlackRock ETF’s rise and MicroStrategy’s massive buy-in.
BlackRock’s iShares Bitcoin ETF enters the top 0.16% of US ETFs with $3.19 billion inflows.
MicroStrategy amplifies its Bitcoin holdings to 190,000 BTC, pushing its asset value to $8.1 billion.

During Asian trading hours, Bitcoin’s price movement has been the centre of attention, fluctuating around the $43,000 mark. This interest is significantly heightened by developments in the ETF sector, especially with the BlackRock iShares Bitcoin ETF, which has seen over $3.19 billion inflows. This achievement ranks it among the top 0.16% of US ETFs. This is a remarkable accomplishment, given a brief trading pause for SEC approvals. Following closely, Fidelity’s Bitcoin Fund also demonstrates strong performance with $2.51 billion, highlighting the increasing institutional interest in Bitcoin.

BitMEX Research indicates a shift in investor preference from Grayscale to these emerging ETFs. Therefore suggesting a bullish perspective for Bitcoin as institutional investments surge. This change points to a combination of growing confidence and capital inflow, potentially pushing Bitcoin’s price higher.

MicroStrategy’s Strategic Bitcoin Investment

MicroStrategy’s decision in January to increase its Bitcoin reserves by 850 BTC, bringing the total to 190,000 BTC valued at $8.1 billion. This move reflects the company’s strong belief in Bitcoin as a top institutional-grade asset. Throughout 2023, the company’s bold strategy to acquire 56,650 Bitcoin at an average price of $33,580 each not only expanded its portfolio but also significantly raised its net income to $89.1 million. This aggressive accumulation highlights the prevailing market view that Bitcoin’s value has the potential to increase, fueling speculations of a surge towards the $50,000 mark.

Anticipating Bitcoin’s Ascend to $50,000

Despite a minor decrease of 0.47% to $42,895, the market is alive. Predictions and analyses aim to pinpoint Bitcoin’s next significant move. Technical indicators identify a critical point at $43,332, with resistance levels suggesting possible future price points. Support levels are closely monitored for indicators of a downward trend. The combination of strategic institutional investments and market trends prepares the ground for a potentially pivotal phase in Bitcoin’s trajectory, with the $50,000 target in sight.

The post Bitcoin Nears $43K: ETFs Soar & MicroStrategy Buys Big appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Enhancing and Broadening Managed Connectivity Solutions Across the Americas. OptConnect, a longtime leader in managed wireless services, today announced it has acquired Latin America-based...

    Editor's Pick

    CSL, Critical IoT Connectivity experts, announce the launch of CSL Satellite. CSL Satellite provides Critical Connectivity to remote or challenging environments, where mobile or...


    Honda said on Tuesday it was recalling 750,000 vehicles in the United States over a defect involving air bags which could deploy unintentionally during...


    Cruise, the driverless car company owned by General Motors is back in the spotlight after another close call with a pedestrian. The California DMV...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024