ARK ETF product registered the largest buy in a single day since it was launched with a massive buy of 3,089 Bitcoin worth more than $203M.
This a milestone for an ETF that until now was very conservative on their inflows but with a large dream behind their product. I, myself don't see this buy as surprise at all. I watched Cathie Wood, the Ark boss, interview when the ETF were still to be approved and she has too many expectations on Bitcoin.
Cathie Wood believe that Bitcoin price will hit $600,000 per unit before hit $1.5M per coin in 2035. She doesn't just place those numbers, bit analyze the demand and offer the Bitcoin market should be offering in the next times. For example, only this week, the ETFs bought more Bitcoin that what miners can mine. The demand on Bitcoin is increasing and soon there won't be many to offer for the market and will shoot the price up.
Not only that, but the Bitcoin usecase okay a very important role. Imagine an asset that can be store of value, means of exchange and unit of account, definitely what the world needs in just one financial tool. Bitcoin is what people want nowadays and the run made by ETFs are justifying this. Time to not fade this and lock on it!
ARK just saw it's first biggest inflow since started to offer their product, securing 3089 BTC valued at more than 203 million dollars and soon more will come. And you my friend, still sleeping on this! Remember:
CONTENT IS KING!