The Growing Bitcoin Demand and Limited Supply
As demand for Bitcoin surges, industry leaders express concerns over its scarcity. Bitwise CEO Hunter Horsley highlights that significant acquisitions by public companies, including 95,000 BTC in Q1 2023, may lead to insufficient supply.
The recent formation of Twenty One, a venture with $4 billion in Bitcoin holdings by Tether, Bitfinex, and SoftBank, further underscores this trend. Additionally, Bitcoin spot ETFs have recorded $3.3 billion in inflows recently, suggesting untapped capital eager to enter the market.
Experts predict major financial institutions like Merrill Lynch and Morgan Stanley will offer Bitcoin ETFs by year-end, potentially resulting in record inflows. Despite the current volatility in cryptocurrency prices, underlying growth remains evident.
Michael Saylor’s recent substantial Bitcoin purchase emphasizes the urgency of securing assets before prices escalate. The collaboration between traditional and decentralized finance firms highlights a pivotal shift towards Bitcoin, reinforcing its position as a sought-after asset in the evolving financial landscape.
The press radar on this topic:
ETF Store President dares Bitcoin skeptics with one question
Merrill Lynch, Morgan Stanley, Wells Fargo And UBS Will Offer Bitcoin ETFs To Clients By Year-End, Bitwise CIO Says, Predicting Record Inflows
Saylor signals impending Bitcoin purchase following Q1 earnings call
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