It appears that Bitcoin’s price, like a genteel lady at a rather dull assembly, maintains a steady composure despite the turbulence of the wider marketplace. This admirable steadiness is attributed to the unshakable spot Bitcoin ETF holders and the indefatigable Mr. Michael Saylor’s continued acquisitions, as observed by a certain insightful analyst from Bloomberg.
“The ETFs and Mr. Saylor have been eagerly scooping up all the ‘dumps’—those rather unfortunate relinquishments by idle tourists, disheartened FTX refugees, GBTC bargain hunters, legal entanglements, government confiscations, and, indeed, God only knows what other misfortunes,” declares Bloomberg’s ETF analyst, Mr. Eric Balchunas, on an April 16th proclamation made upon the electronic social sphere known as X.
Bitcoin ETF Holders: The Fortified Gentlefolk of Finance
Mr. Balchunas remarks upon the noble fact that spot Bitcoin (BTC) ETFs have attracted the tidy sum of $131.04 million within the last month and have accrued a staggering $2.4 billion since the commencement of this annum. He dubs this achievement as “impressive,” which, naturally, clarifies why Bitcoin has shown such steady poise.
“Its possessors are far more steadfast,” he insists with a hint of admiration. According to this gentleman, Bitcoin ETF investors possess “much stronger hands than most are wont to believe,” implying their grip defies the usual trembling. Consequently, this should, one supposes, augment Bitcoin’s stability and temper its capricious nature for the foreseeable future.
Mr. Saylor’s establishment, dubbed Strategy, executed its latest acquisition on the 14th of April, obtaining 3,459 Bitcoins for a princely sum of $285.5 million, with each coin valued at an average of $82,618. Per the ever-diligent Saylor Tracker, their coffers now contain a formidable 531,644 Bitcoins at the time of this writing.
The Bitcoin Volatility Index, an instrument measuring the tantrums of Bitcoin over the preceding 30 days, registers at a demure 1.80%, according to Bitbo’s records. At the moment this communiqué is composed, Bitcoin herself is exchanging hands at $84,610 as chronicled by CoinMarketCap.
Over these past thirty days, Bitcoin has dallied between $75,000 and $88,000, unfazed by the tempest brewed chiefly by the aforementioned Mr. Donald Trump’s tariffs and the ongoing riddle concerning the destiny of US interest rates.
And yet, in spite of these trials, Bitcoin continues to soar above its previous pinnacle of $73,679, first bested in the hallowed month of November.
Participants in the wider financial ball have expressed their astonishment at Bitcoin’s recent fortitude, particularly when contrasted with the much-fancied S&P 500.
A certain stock market commentator, known as Dividend Hero, confessed to his 203,200 adherents on the 5th of April, following the so-called “Liberation Day” of Mr. Trump, that although he had once regarded Bitcoin with disdain, observing its refusal to falter whilst the stock market stumbled proved a captivating spectacle.
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2025-04-18 07:53