The Bitcoin exchange rate on July 10 for the first time struck a mark of $ 113 thousand, rising above the last price maximum achieved the day before, reports RBC Crypto.
Bitcoin growth is accompanied by high institutional demand. In American exchange bitcoin funds (EXHCHANGE TRADED FUNDS, ETF) for several days in a row arrive a clean flow of capital up to $ 100 million per day.
With a pure influx of funds to the so -called spot (spot) ETF, management companies produce new shares and are obliged to buy the corresponding number of bitcoins to provide these papers. This creates additional demand in the market. Such ETF, including the BlackRock Foundation, aggregate assets by almost $ 140 billion.
In addition, the course is supported by large corporate purchases. The company Strategy (former Microstartegy) Michael Seilor accumulated about 3% of existing bitcoins, almost weekly acquiring new batches of coins, financing them by issuing shares and convertible bonds.
The company has been buying bitcoins since 2020, and with the growth of the course its unrealized profit from investment is already more than $ 24 billion. Due to the success of the company’s strategy, more than 100 other organizations traded on the exchange that buy cryptocurrency, actually providing investors with access to it through the issue of shares.
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Source: Cryptocurrency
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