U.Today – Michael Saylor, who founded MicroStrategy and first spearheaded it as CEO and now takes the helm as executive chairman, has published an important X post about spot ETFs.
Saylor comments on daily Bitcoin ETF inflows as “probably nothing”
Saylor drew the crypto community's attention to recent daily inflows into Bitcoin exchange-traded funds (ETFs). To accomplish that, MicroStrategy's head reposted another X user's tweet featuring “15 consecutive days of inflows to US Bitcoin ETFs.”
These inflows amount to hundreds of millions of US dollars. The smallest was $103 million on November 27th. The largest was $766.66 million on December 5th. The latest inflow in the table in the screenshot was registered on November 18th and was $275.39 million.
Michael Saylor tweeted: “Probably nothing.” The Bitcoin ETF was approved for trading in January of this year. Since then, more than a dozen Bitcoin funds have entered the market and started accumulating BTC daily.
Saylor highlights Hut8's large Bitcoin purchase
In another X post published today, the head of MicroStrategy shared the news that crypto mining company Hut8 has purchased a sizable chunk of crypto (990 Bitcoins).
Miners acquired this batch of BTC for around $100 million, paying an average of around $101,710 per coin. Like Saylor's company, Hut8 has been building its own strategic Bitcoin reserves, and this new acquisition brings it to over 10,000 BTC, worth approximately $1 billion as of December 18th.
This article was originally published on U.Today
