BitMex: The 20 Millionth Bitcoin Has Been Mined, Institutional Capital Inflows Drive BTC Up 8.09%

Odaily News The 20 millionth Bitcoin has been mined, leaving only about 1 million left until the 21 million hard cap. Since February 24th, influenced by the Iran conflict, Bitcoin has risen by 8.09%, while gold has fallen by 0.42% over the same period, indicating a trend of capital rotation from gold to digital assets.

In the US market, the Coinbase premium and continuous BTC ETF inflows show that US buyers are driving this rally. Large single-day inflows occurred between February 24th and March 4th. After a slight net outflow on March 5th and 6th, the inflow trend resumed in the past two days. MicroStrategy's preferred stock STR.C has traded at a premium for four consecutive trading days, accompanied by record trading volume. Over the past two days, this premium is estimated to have directed approximately $130 million to $180 million specifically for purchasing Bitcoin, equivalent to about 40% of a strong ETF inflow day. When STR.C trades above $100, MicroStrategy can efficiently raise capital through at-the-market offerings and use it to buy Bitcoin.