Hey, it’s Archie,

We made it through the bear market and Bitcoin has finally smashed through $50K as ETF inflows accelerate.

Let’s dig in! 🙌

🚨Today’s Issue

• Bitcoin breaks $50K

• ETFs double inflows in 3 days

• MicroStrategy is now a Bitcoin Development Company

NEWS

Bitcoin Snippets

• Bitcoin Becomes Top 10 Global Asset: Market cap $975b is larger than Tesla and Warren Buffett’s Berkshire Hathaway.

• Chinese New Year: 2024 is the Year of the Dragon. The Chinese name for the dragon is 'Loong'. 🤑

• BlackRock: Bitcoin is creating a "global internet of value” and that ETFs are a "scalable bridge from traditional finance into bitcoin that enable mainstream access".

• Bitcoin Halving: 64 days until the block reward is cut by half.

PRICE

Bitcoin Breaks $50,000

• Bitcoin breaks $50,000 for the first time since December 2021 — 111 weeks ago.

• Up 225% since the bear market lows!

• Bitcoin has spent just 144 days over $50,000 in its entire history and is on the way to closing UP for the 6th month in a row.

• The last time Bitcoin went up for 6 consecutive months was in the 2021 bull market.

ETFs

Bitcoin ETFs Hold +$10 Billion in Assets

• Net Inflows for ALL Bitcoin ETFs have doubled in the last 3 days to over $3b with $1.44b in new funds, and seemingly accelerating in momentum as this influx of funds pushes the price higher.

  

• The Gold ETF took 2 years to reach £3b in assets

• BlackRock, Fidelity, and ARK ETFs now hold more than $1b in assets, with BitWise at $933m close behind and sure to join the club by the end of this week.

• The Bitcoin holdings for the new ETFs have surpassed MicroStrategy in just one month of trading:
  - 9 New ETFs: 226,751 BTC

  - MicroStrategy: 190,000 BTC

• Grayscale’s GBTC outflows have also stabilised under $100m a day.
  

  

MICROSTRATEGY

Bitcoin ETFs Hold +$10 Billion in Assets

• Michal Saylor is steering the company towards innovation in Bitcoin technology.

• The company will develop applications using Bitcoin's base layer and second-layer solutions, such as the Lightning Network.

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Cheers,

Archie 🙌

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