- BlackRock absorbs 11,500 BTC in 2 days, which is equivalent to 13 days of Bitcoin production.
- Concerns arise over a supply crunch as ETFs’ needs outpace daily production.
- Nonetheless, market participants see the situation as a bullish signal.
In a recent post on X, pro-Bitcoin advocate “InvestAnswers” unveiled a startling revelation about BlackRock’s substantial Bitcoin acquisitions, sparking concerns of a looming supply crunch.
According to the post, BlackRock, one of the world’s largest asset management firms, absorbed a staggering 11,500 BTC from the market in just two days. Given that approximately 900 BTCs are issued daily, BlackRock’s accumulation represents a significant chunk of the daily supply.
Specifically, the tweet highlighted that the 11,500 BTC withdrawal accounts for about 13 days’ worth of Bitcoin production. Notably, the BlackRock figure amounts to approximately $500 million at Bitcoin’s market value.
#Blackrock took 11,500 $BTC from Supply in 2 daysThe post BlackRock Drains 13 Days’ BTC Worth, Triggering Supply Crunch Worries appeared first on Coin Edition.900 Bitcoin are issued daily, and you can see Blackrock's move into their cash supply from last night into Bitcoin, buying the dip. Now, they mostly hold Bitcoin.
The key point is …