BlackRock’s ($BLK) big wig, Larry Fink, is perhaps the greatest example of TradFi becoming ‘cool’ with crypto – specifically $BTC. 😎
But he hasn’t always been cool with Bitcoin.
2017
Called Bitcoin an “index of money laundering.”
2020
“Bitcoin is here to stay.” He even claimed that, to a large extent, Bitcoin will replace gold.
2023
Not much needs to be said here. BlackRock filed for a spot Bitcoin ETF – which basically says, “We wants all of the Bitcoins.”💰
BlackRock’s spot $BTC ETF, IBIT, just casually gained a cool $788 million in a single day. 🪨
While the rest of us debated whether to splurge on $SHIB or $FLOKI, $IBIT was busy breaking records. With a casual $12.2 trillion in its war chest, the world’s heavyweight asset manager, BlackRock, has decided Bitcoin is the new black.
If you thought yesterday’s Litepaper highlighting the $713 in liquidations was bad, well, it got worse. 😱
$804.30 million in longs and $259.04 in shorts for a whopping $1.06 billion in liquidations affecting nearly 300,000 traders.
Here are some interesting stats on how Bitcoin performed historically in March. 📚
Bitcoin closed March in the green four times versus eight times in the red.
In the green months, Bitcoin showed off with an average percentage gain of +48.91%.
On the downside, the average percentage loss during the red months was -15.62%.
Unless you’ve been sleeping off some horrible life decisions from last night, $BTC is insanely close to reaching its prior all-time high. 🚀
It’s probable that by the time you read this, new all-time highs might already be in.