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    HomeBlockchainAnalyzesBeginning in 2024, bitcoin spot exchange traded funds (ETFs)...

    Since the beginning of 2024, bitcoin spot exchange traded funds (ETFs) in the US have been steadily accumulating bitcoin (BTC).

    From January 11, 2024 Twelve bitcoin spot exchange traded funds (ETFs) in the United States are steadily accumulating bitcoin (BTC). This doesn't take into account the significant supply of bitcoins stored in Grayscale's GBTC, from which total outflows amount to $20 billion.

    Currently these bitcoin funds hold almost a full million (924,768.09) BTC, or 4,68% of the global supply of the top cryptocurrency worth over $60 billion, if they continue to accumulate BTC at the same rate as they are now, they could surpass 1 million in BTC volume in just a month.

    When these funds first appeared on the market, Grayscale's GBTC had over 620,000 BTC, but now only has 220,820.34 BTC.

    Thus, the ETF-bitcoins will soon surpass in volume of possession the portfolio of Satoshi Nakamoto himself, which contains about 1 million BTC.

    Blackrock's ETF, IBIT, now boasts a whopping 365,310.38 BTC, representing a solid 39.5% of the 924,768.09 BTC held by the 12 funds.

    This means that IBIT alone represents 1,85% of all bitcoins currently in circulation. Grayscale's GBTC, while still significant, is the second largest among these ETFs with reserves of 220,820.34 BTC.

    If these funds are traded every day (which in the end does not happen) for eight months, they would accumulate 65,596.01 BTC per month or 2,154.60 BTC per day.

    At this rate, the 1 million bitcoin mark can be reached in just over a month - approximately 34.8 days. Even taking into account possible fluctuations in the pace of trade and inflows or outflows of funds, there is still a high probability that they will pass this threshold as early as 2024.

    Next year, if the current pace of purchases continues with the addition of TOP 🔝 global banks to the pool of large buyers (they have already announced such intentions), we should expect that in total, more than 3 million BTC will be concentrated in the hands of banks and large funds.

    Obviously, they will not be able to purchase that number of bitcoins on centralized exchanges, as there are no such volumes. If anyone was expecting to the moon 🚀 in 2025., there are now fundamental reasons for such a strategy and simple mathematical calculations show the reality of achieving the New Bitcoin 📈ATH (all time high) peak in 2025.

    Robert Kiyosaki expects a price of 💸500k for 1️⃣💸 next year and that forecast no longer seems fantastic.

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