Category: Forex News

Bitcoin (BTC) News Today: Investor Demand Soars Amid ETF Boom

By Published On: March 14, 20240.9 min readViews: 2140 Comments on Bitcoin (BTC) News Today: Investor Demand Soars Amid ETF Boom

Fidelity Wise Origin Bitcoin Fund (FBTC) ranked fourth by net inflows for the first time since launch. Net inflows fell from $215.5 million (Mar 11) to $51.6 million (Mar 12), according to BitMEX Research.

Significantly, the Nine saw net inflows break the $1,000 million barrier for the first time since launch. Grayscale Bitcoin Trust (GBTC) saw net outflows tumble to $79.0 million, resulting in BTC-spot ETF net inflows of $1,045 million.

The BTC-spot ETF market stats were significant. Investors continued to enter the BTC-spot ETF market despite BTC sitting at record highs. Demand continues to signal a move toward $100,000 as the Bitcoin Halving event approaches.

MicroStrategy Targets More BTC with New Private Offering

MicroStrategy (MSTR) announced another public offering to acquire more BTC in the pre-Butcoin Halving frenzy. On Wednesday, MicroStrategy founder and Chairman Michael Saylor shared a press release, saying,

“MicroStrategy Announces Proposed Private Offering of $500 Million of Convertible Senior Notes”

The private offering is the second in two weeks. On Monday (Mar 11), Saylor announced the purchase of 12,000 BTC, using proceeds from convertible notes and excess cash. MicroStrategy may use proceeds from the latest funding round to acquire more BTC.

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