Bloomberg Analyst: Market Underestimates Strong Bull Market of Past Two Years, "Baby Boomers" Still Buying Bitcoin ETFs

Odaily News Bloomberg senior ETF analyst Eric Balchunas stated on the X platform that "baby boomer" investors bought approximately $5 billion worth of Bitcoin ETFs yesterday. However, he noted that the net inflows into Bitcoin ETFs this year remain slightly negative, describing the current phase as a "bad time." Eric Balchunas also emphasized that if one had told the market three years ago that Bitcoin's price could reach around $78,000 and ETF assets under management could reach the $100 billion level, people would have considered it a huge success (implying a 240% return, or a 50% annualized yield). Therefore, the market is still underestimating the 464% growth achieved in 2023 and 2024, and the narrative is still catching up with reality.