Feb 22 Update: #Grayscale decreased 2,652 $BTC($135.8M). 8 ETFs added 3,301 $BTC($169M), of which #iShares(#Blackrock) added 1,891 $BTC($96.8M). https://t.co/09i50trbJk https://t.co/gIuMjSnetz
Man the ECB REALLY hates Bitcoin https://t.co/tX3vjK6uKl
The SEC approved Bitcoin ETFs. The European Central Bank is not happy https://t.co/YoCqGxH7Bk
In a significant development for the cryptocurrency market, the U.S. securities regulators' decision to approve ETFs that invest directly in Bitcoin has sparked a new wave of investor interest in the oldest and biggest cryptocurrency. MicroStrategy, under the leadership of Michael Saylor, made a strategic investment in Bitcoin back in 2020, which has now ballooned to a value of $10 billion. Saylor has expressed no intention of selling any of MicroStrategy's Bitcoin holdings, even as the company sits on a $4 billion profit from its investment. The approval of Bitcoin ETFs, including spot Bitcoin ETFs, has led to a surge in trading volumes, with ETFs worth $2 billion trading in a single day. ETFs like VanEck's HODL experienced a 2,200% increase in trading volumes, driven largely by individual traders, and Bitwise's Bitcoin ETF saw over 5 million shares traded, totaling $150 million, marking its second-largest trading day. This influx of investment has prompted comparisons to gold's performance following the launch of gold ETFs, although some analysts believe Bitcoin will not replicate gold's 800% rally over eight years. Despite the enthusiasm surrounding Bitcoin ETFs, the European Central Bank (ECB) has criticized Bitcoin, arguing it has failed to become a global decentralized digital currency and highlighting concerns over fraud and manipulation. The ECB's stance underscores the ongoing debate over Bitcoin's role and value in the financial ecosystem.
