On November 12th (Tuesday) Beijing time, Bitcoin broke through $88000 for the first time in its history. Currently, the market value of Bitcoin has reached $1.751 trillion (approximately RMB 12.68 trillion), surpassing silver and becoming the eighth largest asset in the world.
Since Trump announced his victory on November 6th, Bitcoin has been hitting historic highs almost every day, with a cumulative increase of nearly 17% in the past five trading days. The surge of Bitcoin has also pushed the total market value of the global cryptocurrency market to exceed $3 trillion for the first time in three years.
A reporter from the Daily Economic News found that in the past four trading days since November 6th, the net amount of funds flowing into Bitcoin spot ETFs has reached about 3.4 billion US dollars (about 24.6 billion yuan). The top five Bitcoin spot ETFs in terms of size have all risen by over 25%, with a total size exceeding $70.4 billion.
Bitcoin has risen nearly 17% in the past five trading days, according to Google Finance
With the sharp rise of Bitcoin, the "whales" of Bitcoin naturally made a lot of money. According to Bitcoin Treatsuries data, Tesla, which has recently "lost its grip", has also made a lot of profits in Bitcoin investment. As the fourth largest Bitcoin holder among publicly traded companies in the United States, Tesla currently holds 9720 bitcoins, with a total value of approximately $870 million as of the time of writing, generating revenue of $532 million (approximately RMB 3.85 billion) and a profit margin of 158%.
Looking ahead to the future, many investment banks and investors, including Standard Chartered, expect Bitcoin to continue to rise and hit $100000 by the end of the year.
Zhao Wei, a senior researcher at OKX Research Institute, pointed out in an interview with the Daily Economic News that the high market sentiment and the influx of a large amount of funds have jointly contributed to the rise of Bitcoin, becoming an important support for its continuous breakthrough to historical highs. The increasing uncertainty in the global economy, how US economic policies will change, how Trump will implement cryptocurrency policies after taking office, and how the cryptocurrency market will promote compliance are all important factors affecting the subsequent market trends of Bitcoin and the entire cryptocurrency market
Bitcoin spot ETF draws 24.6 billion yuan in four trading days
As of November 11th, Bitcoin spot ETFs traded in the US market hold $84 billion in assets, accounting for approximately 66% of the total assets managed by gold ETFs. Bloomberg ETF senior analyst Eric Balchunas said that based on the current growth trajectory, spot Bitcoin ETFs are expected to completely surpass the asset management scale of gold ETFs in the next two months.
As Bitcoin approaches the $90000 mark, its total market value has reached $1.751 trillion, surpassing silver's $1.734 trillion and becoming the eighth largest asset in the world.
Bitcoin market value exceeds silver per chart
The sharp rise of Bitcoin has directly driven the related Bitcoin spot ETFs to soar. The Daily Economic News found that in the past four trading days since November 6th, the net amount of funds flowing into Bitcoin spot ETFs has reached about 3.4 billion US dollars (approximately 24.6 billion yuan).
Among them, data from Farside Investors, an investment management platform, shows that on November 7th, the largest iShares Bitcoin Trust ETF (IBIT) had a daily inflow of over $1 billion, driving the total inflow of Bitcoin spot ETFs to over $1.3 billion, setting a record high for a single day. On the same day, IBIT closed with a trading volume of $4.1 billion, setting the highest daily trading volume since the issuance of the ETF.
Every drawing
From the performance of ETFs, the cumulative increase of the top five Bitcoin spot ETFs that have already been listed from November 6th to 11th is about 25%, and the size of these five ETFs has reached 70.4 billion US dollars.
Every drawing
Tesla is "win thoroughly again", and the profit rate of Bitcoin investment reaches 158%
Earlier on Monday, Bitcoin leader MicroStrategy disclosed that the company raised approximately $2 billion through issuing new shares from October 31 to November 10, purchased 27200 new bitcoins, and currently holds 27942 bitcoins. On that day, MicroStrategy's stock price rose nearly 26% to $340 per share, setting a new historical high.
According to BitcoinImprovements data, MicroStrategy currently holds a total value of approximately $25 billion in Bitcoin, with a profit margin of 109.4%.
BitcoinTreasuries
As can be seen from the above figure, Tesla, which recently "won the hemp", is the fourth largest bitcoin holder among American listed companies. The number of bitcoins held by the company is 9720. Since Trump announced his victory in the US presidential election, Tesla's stock price has risen nearly 35% in the past four trading days.
As of press time, the total value of Tesla's Bitcoin assets is approximately $870 million, with an investment cost of $338 million. This means that Tesla's return on Bitcoin investment reached $532 million, with a profit margin of 158%, far higher than MicroStrategy.
BitcoinTreasuries
With the success of Bitcoin spot ETFs, many asset management companies have also launched a series of ETFs focused on other cryptocurrencies, including Solana, XRP, and Litecoin. Meanwhile, these asset management institutions have also proposed the idea of several cryptocurrency index ETFs for investors to hold diversified cryptocurrency assets.
Bitcoin hits $100000 by the end of the year? Analyst: Three major factors will affect the future direction
Citigroup strategists recently pointed out in a report that cryptocurrency is one of the few Trump transactions that has not yet been withdrawn, partly due to the Trump administration's friendliness towards cryptocurrency.
On November 12th, US President elect Trump was preparing to make the US government take a more lenient stance on cryptocurrencies. He was searching for key position candidates who were friendly to the cryptocurrency industry, while his senior advisors sought advice from cryptocurrency executives on potential changes in federal policies. The initial discussions focused on a series of financial regulatory agencies, including the US SEC.
Zhao Wei, a senior researcher at OKX Research Institute, pointed out in an interview with the Daily Economic News that "during the US presidential election, Trump repeatedly expressed support for cryptocurrency, which was seen as a major positive by the market. After his victory, it further promoted the general rise of Bitcoin and the entire cryptocurrency market." He believes that the high market sentiment and the influx of a large amount of funds have become important support for his consecutive breakthroughs in historical highs.
The increasing uncertainty in the global economy, how US economic policies will change, how Trump will implement cryptocurrency policies after taking office, and how the cryptocurrency market will promote compliance are all important factors that affect the subsequent market trends of Bitcoin and the entire cryptocurrency market, and are information that traders need to closely monitor, "Zhao Wei added to reporters.
Many analysts have high expectations for the future trend of Bitcoin. Currently, Bitcoin options traders have set their sights on $100000. According to Deribit, a cryptocurrency options exchange, investors are betting that Bitcoin will reach this milestone before the end of the year. As of Monday morning, there were approximately 9635 open contracts of Bitcoin (worth around $780 million) betting that Bitcoin would hit $100000 before December 27th, making it the largest trade in contracts on that date. However, Deribit estimates that the probability of the contract expiring and making a profit is only 18.6%.
Standard Chartered Bank predicts that Bitcoin will continue to rise and hit $100000 by the end of the year. It is expected that by the end of 2026, the total market value of the cryptocurrency market will grow to $10 trillion.
But the Daily Economic News reporter noticed that high volatility is still the keyword of the Bitcoin market in recent times. At the end of October, Bitcoin once rose to a high of over $74000, but it rebounded again in early November and fell to $67000 on November 4th. Subsequently, as the US presidential election situation changed, the price of Bitcoin skyrocketed again.
Coinglass
Disclaimer: The content and data in this article are for reference only and do not constitute investment advice. Please verify before use. Based on this operation, the risk is borne by oneself.
