In this fourth installment of our series, we will talk about the trends of Bitcoin (BTC) as it approaches its halving, one of the major events in the cryptocurrency industry, and our company's efforts related to the halving.
Global Overview
BTC, which will undergo its fourth halving on April 20, 2024, exceeded 11 million yen against the yen on April 7, breaking its ATH.
As mining rewards have been halved to 3.125 BTC, there are various speculations, such as the view that some miners who are no longer profitable in the short term will put pressure on them to sell, or that the hash rate and mining difficulty will gradually be adjusted, leading to an upward trend in prices.
Another positive factor in the current fundamentals is the accelerating inflow of funds into ETF products created by major US asset management companies Grayscale and BlackRock, following the approval of the first BTC spot ETF in the US in January this year.
According to BitcoinTreasuries.com, these ETFs hold a total of approximately 570,000 BTC, which is approximately 2.7% of the total issuance of 21 million BTC (as of April 26).
In relation to this, Tesla and MicroStrategy were once hot topics as companies that hold BTC, but the current number of BTC held by listed companies around the world is reported to be about 310,000, which shows the high level of attention that ETFs are receiving.
In Japan, listed companies have also announced their purchase of BTC, and the future in which BTC will be on par with traditional asset classes is becoming a reality.
