Ivan On Tech – BITCOIN: SURPRISE FOR BEARS…. (urgent) (15.05.2024 Summary)

Ivan On Tech – BITCOIN: SURPRISE FOR BEARS…. (urgent) (15.05.2024 Summary)

Bitcoin Bears, Beware! 🐻

According to Ivan, bitcoin bears are in for a big surprise. Why? Well, there are several reasons that Ivan believes will catch the bears off guard.

📈 Ivan mentions there are positive inflows into the Bitcoin ETF recently, with more days of zero outflows. He says this stabilization in the ETF is an interesting sign.

🧓 Ivan highlights that a state pension fund in Wisconsin has disclosed holding $100 million worth of bitcoin in the BlackRock Bitcoin ETF, which is surprising to see institutions move so quickly into a new bitcoin product.

🪙 Ivan references Michael Saylor’s point that thousands of pension funds managing $27 trillion in assets will need to buy some bitcoin for retirement portfolios, as bitcoin is one of the only long-term assets they can really count on.

In summary, Ivan believes the combination of positive ETF flows, and rapid institutional adoption of bitcoin products will create a surprising upside for bitcoin that the bears are underestimating.