- Bitcoin Archive Newsletter
- Posts
- $69,000 Bitcoin - New All Time High!
$69,000 Bitcoin - New All Time High!
Bitcoin starts March with a huge run after record breaking February.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/9add2798-c73a-49f1-8a32-23280af3e528/image.png?t=1706201865)
Hey it’s Archie!
Bitcoin just broke $69K as I am typing this out, Saylor is aping into spot again, and Bitcoin ETFs are just getting started.
These are the days we dreamed of during the bear market: face ripping green candles to reward our patience and conviction while being ridiculed.
Let’s dig in! 🙌
🚨Today’s Issue
Bitcoin breaks $69,000
Michael Saylor raises $600m to buy Bitcoin
ETF Inflows fire up again
NEWS
Bitcoin Snippets
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/04526277-8f82-4fc8-8c70-d11db0b86bf2/image.png?t=1706708431)
Stanford University’s Blyth Fund buys Bitcoin.
BlackRock to buy Bitcoin ETFs through its $36b Strategic Income Opportunities Fund and launches ETF in Brasil.
Bitcoin overtakes Facebook’s Meta as the 14th most valuable asset in the world.
Bitcoin Market Cap hits all-time high.
Bitcoin hits $100,000 in Australia.
Bold text 1: Details in a short sentence.
Morgan Stanley to add Bitcoin ETF exposure to 12 funds.
Bitcoin makes first 🔴 on Plan B’s model, signalling start of parabolic bull market.
Bank of America and Wells Fargo have started pushing Bitcoin to clients
BULL MARKET
$69,000 Bitcoin - A New All Time High
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/d31c66dc-baba-4e39-8931-cc7417c2a231/image.png?t=1709652842)
A huge milestone after Bitcoin emerged from a deep bear market
Bitcoin started this run in November 2022, and momentum has gathered pace with the approval of ETFs, gaining 45% since January 11.
The last time Bitcoin broke the previous cycle’s all-time high, it went on a 210% run up in just 103 days, which would put Bitcoin at $145K by June if this repeated this time.
Some have suggested a ‘triple top” technical pattern emerging on the chart, but there are many other indicators suggesting this the bull market is merely warming up.
I profiled the lack of retail interest to date in this thread.
This chart combines a number of Bitcoin and Macro indicators by Charles Edwards that shows we are still very early in this bull run and nowhere near the “mania phase”.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/86cea276-5881-4d1c-b0a7-d15547b4783f/image.png?t=1709653318)
MICROSTRATEGY
Michael Saylor Raising $600m to Buy Bitcoin
Fresh from buying 3,000 Bitcoin, Michael Saylor is raising another $600m to buy more.
MicroStrategy purchases of Bitcoin across price/time
Saylor continues executing on a simple strategy:
- Sell equity, or borrow, whichever is cheapest at the time.
- Buy Bitcoin. Bitcoin goes up, value of MicroStrategy goes up.
- Rinse. Repeat.It works because equities relative to Bitcoin are mis-priced.
If you hold the conviction that Bitcoin will become the base layer or money in the world and the global reserve asset, then Bitcoin is 1-2 orders of magnitude undervalued.
Having this insight paired with conviction gives you an advantage over the market. You sell something that is overpriced, to buy Bitcoin, which is underpriced.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/862d3fcf-e0f8-4aa6-a20c-1ad556e07534/image.png?t=1709654463)
We are watching in real-time one man give the entire corporate and finance world a lesson, which could end up as one of the greatest investment plays in history.
BITCOIN ETFs
Bitcoin ETFs Break $50B in Total Assets
After just 7 weeks of trading the 10 Bitcoin ETFs (including Grayscale) have a collective total of $52 Billion in assets.
$7.92b of that is in net flows (value of new money on the day they enter the funds).
Grayscale started with ~$27B AUM.
Only 2 days of outflows in the last 17 trading days.
✅ SPONSORSHIP - Let’s talk!
Do you want to build your brand and grow sales?
Bitcoin Archive is one of the biggest Bitcoin media brands with 1.4m followers on X (twitter) and 20,000 subscribers to this newsletter.
Just reply to this email with “Partnership” in the subject line.
Cheers,
Archie
TELL ME 👇
What did you think of today's email?Your feedback helps me create better newsletters for you! |