A certain exchange: The 20 millionth bitcoin has been mined, and institutional capital inflows have driven BTC up by 8.09%.
Odaily reported that the 20 millionth bitcoin has been mined, leaving only about 1 million bitcoins before reaching the hard cap of 21 million. Since February 24, influenced by the Iran conflict, bitcoin has risen by 8.09%, while gold has fallen by 0.42% during the same period, indicating a trend of capital rotation from gold to digital assets.
In the US market, the premium on a certain exchange and continuous BTC ETF inflows show that US buyers are driving this round of price increases. From February 24 to March 4, there were large single-day capital inflows. After a slight net outflow from March 5 to 6, the inflow trend has resumed in the past two days. MicroStrategy's preferred stock STRC has seen a premium for four consecutive trading days, accompanied by record trading volume. In the past two days, this premium is estimated to have driven about $130 million to $180 million specifically for purchasing bitcoin, roughly equivalent to 40% of a strong ETF inflow day. When STRC's price is above $100, MicroStrategy can efficiently raise funds through market issuance and use them to buy bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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