Analysts: BlackRock purchased 11,500 bitcoins during the decline, which may trigger supply tightening
ChainCatcher news, according to analysis by Invest answers, Blackrock has begun to shift their cash supply into Bitcoin, having currently purchased 11,500 Bitcoins. Considering that only 900 Bitcoins are issued daily, this amount is quite substantial. Blackrock's purchase actually represents a participant absorbing about 13 days' worth of Bitcoin production.
Additionally, Invest answers indicates that the average trading volume of the IBIT Spot ETF over two days is only 25%, so it can be assumed that 46,000 Bitcoins have been absorbed in that time (with GBTC having an impact on this). If this pace continues, we may face a serious supply crunch.
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