Bitcoin price stabilization: Institutional investors and companies support the price

Eric Balchunas, an ETF expert at Bloomberg, points out that the reason why the price of the virtual currency Bitcoin (BTC) has remained relatively stable in a weak market is due to a qualitative change in market participants. It seems that the main buyers have shifted from traditional individual investors to institutional investors and large companies, and a structure is being established to absorb the supply released into the market.

On the 17th, Balchunas emphasized on social media that the inflow of funds into physical Bitcoin ETFs has been steady. In particular, iShares Bitcoin Trust (IBIT), managed by BlackRock, has attracted $2.4 billion (more than 340 billion yen) since the beginning of the year...