Eric Balchunas, Senior ETF analyst in Bloomberg, has published a tweet on the Blackrock Bitcoin Etf Ibit spot. Responding to the user x @rafaelnobel, Balchunas expressed the opinion that Ibit is unlikely to exceed the SPDR S&P 500 ETF Trust (SPY) or Vanguard S & P 500 ETF (VOO).
Ibit is unlikely to exceed spy or voo: whales
An hour ago, Bloomberg ETF analyst tweeted that Voo had overcome spy in the value of assets. VOO has assets worth $ 631,876 million, while Spy has a value of $ 630,394 million.
@Rafaelnobel tweeted that Ibit will be next. However, Eric Balchunas poured cold water over his expectations. Balchunas admitted that the Blackrock Ibit managed to reach BTC worth $ 50 billion last year (during the first year after the launch), therefore, Ibit is “def one to see.”
However, he added that Ibit would need “one more adoption ton (flows).” Another great promoter necessary for Ibit to become number one is that you need to break its stock market correlation. The problem is that, according to Balchunas, the world’s largest cryptocurrency tends to decrease with the decline of actions. And this “will make it difficult to gain ground in Voo, IVV, VTI, etc.”
The Bloomberg analyst declared that it is not worth containing breathing about Ibit.
As of February 17 of this year, the Blackrock Ibit has a total of 587,050 bitcoin.
Saylor’s strategy stops buying Bitcoin
In a tweet today, Michael Saylor, executive president of Strategy (previously Microstrategy), announced that last week the company did not sell any common class A action as part of its market shares offer program in the market.
Therefore, there was no sale of shares, therefore, the strategy did not buy more Bitcoin. As of February 17, the company has a total of 478,740 bitcoins bought for approximately $ 31.1 billion to approximately $ 65,033 by Bitcoin.
Saylor recently rename Microstrategy in strategy, with its logo that includes a Bitcoin logo with its four vertical blows. Therefore, Saylor emphasized the company’s determination to focus on its Bitcoin strategy adopted in August 2020.
Earlier this week, Saylor also shared 21 Bitcoin rules, which included important principles to follow for true bitcoiners. They included the classic: “I only buy bitcoin with the money that cannot afford to lose” and “does not sell your bitcoin.”
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