What stocks will benefit from the Bitcoin explosion?
According to data from the digital asset management and research company CoinShares (CoinShares), funds of several billion dollars have flowed into crypto asset (virtual currency) investment products this year in response to heightened investor interest.Last week was a record high of 2.7 billion dollarshas flowed into “crypto assets (virtual currency),” and most of it has been directed towards bitcoins.
A series of good news encouraged a rapid increase in capital inflows, and among themAn exchange-traded fund (ETF) linked to Bitcoin in kind has been approvedKotoya,A “half-life” event scheduled for AprilIt includes. James Butterfill, who is in charge of investigation at CoinShares, says that approximately 10.3 billion dollars have flowed into crypto assets this year, and the momentum is approaching the annual inflow of 10.6 billion dollars in 2021. The year 21 is also the year that Bitcoin hit a record high of around 69,000 dollars at that time. However, as Bitcoin continues to hit new highs, it seems that some investors are hedging against market adjustments. “Despite recent price increases,The inflow of funds into the Bitcoin short continues” Butterfill pointed out.
The record high annual fund inflow of 10.3 billion dollars recorded in 2021 is likely to be updated next week, less than 3 months after the start of 2024. Along with the drastic rise in Bitcoin,Bitcoin ETFSince it continued to add thousands of BTC per day, out of last week's fund inflow2.6 billionBitcoin took up the dollar. According to CoinShares (CoinShares), the amount of funds flowing into Bitcoin since the beginning of the year is currently the balance of Bitcoin's assets under management14%It's called climbing up.
After a year of brutal bear market where prices fell by around 80%, Bitcoin surpassed the all-time high of $69,000 set in November 2021.On Monday it will be the highest in historyExceed $72,000 for the first timeOnce again, it hit an all-time high, and is currently rising for 6 consecutive days. The total market value (1.4 trillion dollars) surpassed silver and became the 8th largest asset class in the world in terms of total market value.
While Bitcoin has hit a new high, most Bitcoin-related stocks have declined. The most Bitcoin holdings in the world $MicroStrategy (MSTR.US)$Excluding mining companies $Marathon Digital (MARA.US)$、 $Riot Platforms (RIOT.US)$、 $Bitfarms (BITF.US)$、 $Iris Energy (IREN.US)$etc. are falling across the board.
US MicroStrategy on the night of the 11th, crypto assets (virtual currency)Buy more bitcoinsI announced what I had done. The number of bitcoins held by BlackRock ETFs has once again surpassed. This time, we acquired 12,000 BTC of bitcoins for an amount of 821 million dollars. It is said that the average acquisition price was $68,477. Due to this increase in purchases, the number of bitcoins the company holds205,000 BTCIt increased to, and the overall average acquisition cost was boosted to 33,706 dollars from the previous 31,544 (February). BlackRock's Bitcoin Spot Exchange Traded Fund (ETF) $iShares Bitcoin Trust (IBIT.US)$As of the 8th, it's about196,000 BTCThe amount of holdings was increased until It temporarily exceeded the amount of microstrategy holdings.
Also, Bitcoin spot ETFs rose all at once, and recorded an increase of 40% or more since listing.
It will be the fourth time in 2024Bitcoin's “half-life”I will greet you.Historically, the price of Bitcoin has often skyrocketed. In the previous half-life of 2020/5/11, Bitcoin was 8,750 dollars, and it showed a sharp rise of 430% or more from 11,500 dollars in October 5 months later to 61,300 dollars in 2021/3.
When Bitcoin was launched in 2009, miners received 50 bitcoins per block, but this reward was reduced to 25 in 2012, which is the initial half-life. 12.5 in '16, 6.25 in '20, andIt is expected to decrease to 3.125 in '24that's it. Miner income consists of both block rewards and transaction fees. Half-life means directly devaluing block rewards in half, and assuming that mining power is constant,Miners have decreased block reward incomeIt's going to be done.
Meanwhile, Mitchell Askew, chief analyst at Blockware Solutions, said that companies that purchased efficient machines, especially during the bear market, can continue to operate at lower electricity rates.Most US listed mining companies can make a profitIt's called.
According to Jalan Merrud, founder and chief mining strategist of HashLab Mining, the 3 to 4 months after Bitcoin's half-life scheduled for 4/20 may be an important period for mining companies listed in the US.Some high-cost mining companies may move overseas to maintain profitshe thinks.
However, Blockware Solutions analyst Mitchell Askew doesn't think so, and asserts that “it is unreasonable to think that the half-life will drive mining companies into a situation where they cannot make a profit,” and argues that “they keep energy costs as low as possible and acquire the latest generation hardware in preparation for declining block rewards.”
Source: CoinDesk Japan, CoinPost, Cointelegraph, Bloomberg, Moomoo
— MooMoo News ZOE
This article uses automatic translation for some of its parts
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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181626702 : Is Ripple still there?
183108575 : KINKA is coming
うさり : Crypto assets are at the beginning of a bubble, so it might be good to hold shares in related companies until about next year
徒然草子 : We expect Solana to come in this bubble and SUI in the next bubble.