Michael Saylor to Buy ANOTHER $500m Bitcoin after buying $800m on Monday.

Hey, it’s Archie!

Bitcoin broke $70K for the first time and surged past $73,000 to a new all-time high, Michael Saylor just won’t stop buying Bitcoin; and Institutions are pouring billions every week into Bitcoin ETFs.

Let’s dig in🙌

🚨Today’s Issue

• Michael Saylor buys more…and more!

• Bitcoin ETFs Pull $1b in a single day

• Judge rule Craig Wright is NOT Satoshi

NEWS

Bitcoin Snippets

• BlackRock: Filings with SEC show it will start buying Bitcoin for its own funds. It managers $10T directly, and its Aladdin platform advises another $20T.

• Nation States: El Salvador’s President meets with UAE to discuss... Bitcoin?

• JP Morgan: Bitcoin ETF inflows could break $60 BILLION in 3 years.

• Financial Times: UK’s number 1 finance journal gets bullish on Bitcoin saying:
   “Many big institutions now see Bitcoin as a legitimate investment” 
  
  and that…
  
  "It is extremely unusual for a bubble to burst and then recover to reach new heights so quickly, and suggests that something real and sustainable is going on."
  

• Bitcoin flips Google: 8th most valuable asset in the world.

  

• UK Embraces Bitcoin: London Stock Exchange will accept applications for Bitcoin exchange traded notes after the regulator signalled its assent.

• Trump on Bitcoin: Former president and leading Republican softens his stance, calling Bitcoin a form of currency that many people use for payments.

• Silver: Bitcoin overtakes silver for total market capitalisation at $1.41T

• Bitcoin ETF Fees: VanEck drops fees to ZERO until March, 2025.

• India & Thailand: US ETFs to be offered to institutions and high net worth investors

  

MICROSTRATEGY

Michael Saylor Buys $800m Bitcoin, Then Raises Another $500m!

Michael Saylor’s MicroStrategy bought another $800m Bitcoin after announcing it would raise $600m and then TWICE raising the total by $100m each time - at the juicy interest rate of just 0.625% for a term of 6 years!

It’s virtually free money, and that makes me incredibly jealous.

Demand by institutions seems to be ramping up to bull market levels when MicroStrategy was raising $1b to buy bitcoin.

It seems it is only a matter of time until the next $1b capital raising by MS to buy more Bitcoin.

Here’s the playbook:

• Sell overpriced stock to buy underpriced Bitcoin using debt.

• As Bitcoin rises, it pushes MS stock up even further.

• Rinse. Repeat.

MicroStrategy stock is going parabolic in response, as investor clearly approve of this Bitcoin strategy.

MS is only 5,000 BTC short of owning a full 1% of the 21 million Bitcoin that will ever be issued, now holding 205,000 Bitcoin.

Michael and MicroStrategy are not done buying.

Just days after the completion of the $800m purchase, MS announced another $500m convertible note offering, likely at similar terms as the $800m note.

Michael is literally going to buy Bitcoin at the top, forever. Just like he said he would…

BITCOIN ETFs

Bitcoin ETFs Break $1 Billion Daily Inflow

Bitcoin ETFs have been the most successful ETF launch in history. Now they have broken a huge milestone by pulling in $1 BILLION in a single day.

Amazing that there have only been 2 days of small outflows in the last 33 trading days, and the inflows seem to be accelerating.

The Bitcoin ETFs are not yet available through most wire-houses (10-20%) and most advisor platforms still have not onboarded the ETFs to offer clients.

This is very much the beginning of mainstream adoption. The BitWise CIO has been posting about his experience on an investor roadshow as he ramps up efforts to get the BitWise ETF onto more platforms.

The ETFs have been such a success that the 9 new Bitcoin ETFs have overtaken Grayscale’s enormous GBTC in just 2 months. Nobody imagined this would happen so quickly.

When I group the inflows by weeks, it becomes even more apparent that inflows are accelerating.

This week has already matched last week’s inflows in just 3 trading days!

The gap between Grayscale outflows and total inflows is widening fast, and with the Genesis bankruptcy liquidations ending soon (or already?), we could see this trend accelerate further, just as the ETF marketing machine kicks into gear and bears fruit.

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Cheers,

Archie

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