Bitcoin Marketcap
$1.61T
Gold Marketcap
$18.93T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN
making the case for bitcoin every day
tldr
No matter how you slice it, this is bullish for bitcoin. Critics rightly point out that much of that demand is likely due to accredited investors playing the spread between the underlying spot price and the $GBTC asset which is trading at a premium, but that still translates to net buying pressure. Dan Matuszewski, former head of OTC at Circle and now founder of trading firm CMS Holdings discuss this further in a twitter thread.