tl;dr
The BlackRock iShares Bitcoin ETF (IBIT) has quickly overshadowed MicroStrategy in the race for Bitcoin supremacy, amassing 195,985 bitcoins and reaching $13.5 billion in just under two months. As Bitcoin prices surged to a record high of over $71,000, IBIT has become a dominant force in the market,...
The BlackRock iShares Bitcoin ETF (IBIT) has quickly overshadowed MicroStrategy in the race for Bitcoin supremacy, amassing 195,985 bitcoins and reaching $13.5 billion in just under two months. As Bitcoin prices surged to a record high of over $71,000, IBIT has become a dominant force in the market, shaping the trajectory of Bitcoin prices and reshaping the cryptocurrency landscape.
This sudden ascendancy sheds light on the surging demand for these novel funds, reshaping the cryptocurrency landscape. As Bitcoin’s price soared above $70,000 for the first time in history, reaching a record high of $70,136, the spotlight is undeniably on BlackRock’s ETF and its influence on the market dynamics.
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