BlackRock’s Bitcoin Acquisition Exceeds New Mining Supply, Signaling Market Shift

BlackRock’s spot Bitcoin ETF, $IBIT, recently made headlines by purchasing over 10,572 BTC in a single week. This significant buying activity surpassed the average newly mined Bitcoin supply of only 3,150 coins during the same period. Analysts attribute this surge to increasing demand from institutions while pointing out that mining output remains comparatively limited. This disparity highlights an imbalance between institutional interest and Bitcoin supply, with potential implications for future price trends.