#SaylorBTCPurchase
BlackRock’s Bitcoin Fund Could Become the World’s Biggest in 10 Years, Says Michael Saylor
U.S. Bitcoin ETFs have pulled in $2.8 billion in just five days!
Michael Saylor, the boss of Strategy (MSTR) and a big Bitcoin fan, believes that BlackRock’s iShares Bitcoin Trust (IBIT) will grow into the biggest ETF in the world within a decade. He shared this exciting prediction during the Bitcoin Standard Corporation’s Investor Day.
Quick Highlights:
In just five trading days, U.S. spot Bitcoin ETFs pulled in $2.8 billion.
IBIT alone brought in $1.3 billion.
Bitcoin’s price jumped from around $85,000 to $94,000.
The CME bitcoin futures trade also shows more people are willing to take risks, with returns nearing 10%.
At the moment, IBIT has a market value of about $54 billion. That's still way smaller than the biggest ETF right now — the Vanguard S&P 500 ETF (VOO) — which is worth around $593.5 billion.
Eric Balchunas, a senior ETF expert from Bloomberg, said that it’s possible for IBIT to catch up — but it would need a lot more cash, like $3 to $4 billion a day. That’s a tough goal, but not impossible if Bitcoin’s popularity keeps booming!
Meanwhile, people are not just buying Bitcoin directly. Some are using a smart trading trick called a basis trade — buying the ETF and selling futures at the same time — which shows that investors are getting more creative as Bitcoin grows.