Eric Balchunas, a Bloomberg ETF analyst, expressed skepticism about BlackRock's IBIT Bitcoin ETF surpassing established ETFs like VOO and SPY. While acknowledging IBIT's impressive $50 billion asset value in its first year, Balchunas highlighted the need for increased adoption and a decoupling from the stock market correlation for IBIT to reach the top spot. He pointed out that Bitcoin's tendency to decline during stock market downturns would hinder its progress.
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@rafaelnobel tweeted that IBIT is going to be next. However, Eric Balchunas poured cold water on his expectations. Balchunas admitted that BlackRock’s IBIT indeed managed to reach $50 billion worth of BTC last year , therefore IBIT is"def one to watch."Strategy Suddenly Stops Buying Bitcoinsix years to hit that mark) so def one to watch but it would take a ton more adoption AND you probably need a break in correlation with stocks.
Earlier this week, Saylor also shared 21 Bitcoin rules, which included important principles to follow for true Bitcoiners. They included the classic one: “Only buy Bitcoin with the money you can’t afford to lose” and “You do not sell your Bitcoin.”
Technology IBIT ETF Bitcoin Stock Market VOO SPY
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