#BlackRock #Bitcoin ETF reached $1 billion AUM in a week, that’s impressive. It took bitcoin 4 years or so to get to $1B market cap back then.


The market cap of Bitcoin reached $1 billion for the first time on 28 March 2013. On 3 January 2009, the bitcoin network was created when Nakamoto mined the starting block of the chain, known as the genesis block.

Blackrock getting 1B AUM in about a week is a big success. It is the big step towards general acceptance of crypto as a regulated financial product. The recent price “crash” since the launch of the ETFs is not that significant. 10% swing in a week is nothing compared to the wild days of 50%+ a day!

With the billions pouring into the BTC ecosystem, the halving in April 2024 will potentially drive the price much higher. BTC halving is an event that occurs approximately every four years, reducing the block reward miners receive for validating transactions by half. This mechanism is built into Bitcoin’s protocol to control its inflation and create scarcity, leading to potential price increases due to reduced supply and increased demand.

On the day of Blackrock Bitcoin ETF filing, 23rd June 2023, BTC price was 30,679.40.
On SEC ETF approval day, 10th January 2024, BTC price was 46,629.30.

Sure, easy to say that it is “priced-in” so people are taking profit to drive it back down to 41-42k. But from that’s a 30%+ up from June 2023 anyway.


Just sharing some previous records:

2012 Halving
Price on Halving Day: $12.35
Price 150 Days Later: $127.00

2016 Halving
Price on Halving Day: $650.63
Price 150 Days Later: $758.81

2020 Halving
Price on Halving Day: $8601
Price 150 Days Later: $10923

Bear market No. 1: Bitcoin crash from $32 to $0.01 in 2011
Time to retest previous high: 20 months (June 2011–February 2013)

Bear market No. 2: Bitcoin tanks from $1,000 to below $200 in 2015
Time to retest previous high: 37 months (November 2013–January 2017)

Bear market No. 3: Bitcoin plunges below $3,200 after hitting $20,000 in December 2017
Time to retest previous high: 36 months (December 2017–December 2020)

Bear market No. 4: BTC slumps from $63,000 to $29,000 in 2021
Time to retest previous high: six months (April 2021–October 2021)

Bear market No. 5: Bitcoin plummets from $68,000 to below $20,000 in 2022
We are already back to $40k+ levels in late 2023, with halving coming in April 2024.