Skip links

The US Spot Bitcoin ETFs could have between 5-11% of bitcoin’s max supply by next year (Reddit Bitcoin)

Micro strategy is a single company and holds nearly 1% of the total supply. It is safe to assume that eventually, ETFs will have more Bitcoin than that. There are 11 ETFs each, with multiple buys of 5000+ Bitcoin given it’s in the first week. However, if the ETFs simply purchase 1000 Bitcoin on average daily for 100 days that’s 1,000,000 Bitcoin. 4.76% of the maximum supply when all Bitcoin are issued.

This obviously doesn’t hold up if the market price increases however, realistically as long as it is below 50,000 this will happen. It will also, create intense international competition. When 2025 rolls around, it is going to be central banks that join in. For reference, the US Government has 175,000 Bitcoin in its custody with the majority being confiscated from the Silk Road founder.

We could see the US government sell that 175,000 to the ETF issuers to avoid a government shut down. This, accounts for 17.5% of that 1.000.000 btc target. 100 days, after the ETF is April 20th… the halving is also estimated to be April too.

This is NOT individual ETF purchases but the whole entirety of the US Spot Bitcoin Etf issuer.

submitted by /u/Unpropheticprophet
[link] [comments]

from RSS Cryptocurrency News feed

Leave a comment