#Blackrock took 11,500 $BTC from Supply in 2 days
900 Bitcoin are issued daily, and you can see Blackrock's move into their cash supply from last night into Bitcoin, buying the dip. Now, they mostly hold Bitcoin.
The key point is 11,500 BTC were sucked from the system in 2 days by 1 player.
That alone is approximately 13 days of supply.
In addition, IBIT Spot ETF only managed an average of 25% of the volume over two days - so we can assume 46K in 2 days was sucked out (yeah, I know $GBTC impacted this). Net net, if this pace continues, we're facing a severe supply crunch.
Assuming 11,500 x 4 = 46,000 or 23,000 per day, that's 25.56 times the daily production consumed by US ETFs per day alone... forget about retail investors, other global ETFs etc.
Ignore the price fluctuations; this asset is incredibly hard, and if this continues, we will face an extreme supply crunch. #Bitcoin ETF launch was a huge success (despite egregious GBTC fees)
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This gave me goosebumps.
“My 18-year-old daughter was at Starbucks, alone, the other night.
A man came up to her and started talking to her.
A barista handed her “an extra hot chocolate someone forgot to pick up.”
How grateful I am for people who look out for other people!
Side note: She felt safe and did not remove the lid, but let them know.
She said the whole team was watching over her the rest of the time she was there.💚
Thank you to Starbucks for having a great team.”