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Bitcoin Hits USD 50,000! Is It Time For Action?
@koolgal：
🌟🌟🌟📮📮📮The Year Of The Dragon Has Roared Its Might and Bitcoin Has Jumped above USD 50,000 to reach its highest point in more than 2 years. This is the best week since December 8, ending up 10.7% since last Friday. Is it time for action? Demand for Spot Bitcoin ETFs remains high with net inflows of USD 1.1 billion last week and USD 2.8 billion since their launch. Just last Friday, Bitcoin ETFs acquired 12,000 Bitcoins, outpacing the daily creation rate of 900 new Bitcoins. Since January 11 when Bitcoin ETFs started trading, Fidelity Wise Origin Bitcoin Fund (FBTC) became the 2nd ETF to cross USD 3 billion in Assets Under Management following $iShares Bitcoin Trust(IBIT)$ $Coinbase Global, Inc.(COIN)$ is up 3.7% today and has jumped 24% in the past 5 days. Last year Coinbase gained a massive 161% to reach an all time high of USD 187.39. Coinbase is set to release its 4Q 23 and full year 2023 results on February 15. Wall Street Analysts are Bullish on Coinbase with an expected revenue of USD 823.85 million, an increase of 30.95% year on year. It is an exciting time for Coinbase investors. I have invested in $iShares Blockchain and Tech ETF(IBLC)$ which tracks an index of global companies that are involved in the development, innovation and utilisation of Blockchain and Crypto Technologies. The Top 10 holdings include Marathon Digital Holdings , Coinbase, Riot Platforms, Bitfarms, Cleanspark, $NVIDIA Corp(NVDA)$ $Advanced Micro Devices(AMD)$ IBM, Applied Digital Corp and Block Inc. Nvidia has overtaken Amazon and Google in market capitalisation today as it rose to a record high of over USD 740 per share, bringing its market capitalisation to USD 1.83 Trillion, while Google's market capitalisation is USD 1.82 Trillion and Amazon is USD 1.8 Trillion. The Top 10 weightage is 69% of the ETF. Total number of holdings is 35. The expense ratio is 0.47%. Dividends are paid every 6 months. The current dividend yield is 2.3%. With the halving event of Bitcoin in April, this means that the demand of Bitcoin will far outweigh its supply. I believe that the current sizzling hot rally of Bitcoin will continue its upward momentum. So it is certainly time for action whether to buy Bitcoin ETFs, or stocks that are involved in Bitcoin. The All Time High of Bitcoin (BTC) was USD65,000 in November 2021. I believe it is time for Bitcoin to shine in the Year of The Dragon! @Daily_Discussion @TigerStars @Tiger_comments @MillionaireTiger @CaptainTiger @TigerClub @TigerPicks @Tiger_SG
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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