🔍🔍🔍 The BTC ETF cash flow from BlackRock being negative may lead to a BTC selling strategy
🔹Since October 13, the IBIT cash flow (BlackRock's BTC ETF) has been negative ~$2.6B
-> the longest negative IBIT cash flow in history
🔹 The amount of BTC held by BlackRock has decreased by ~28.6K (~$2.8B) during the same time frame
Additionally, you may not know:
🔹 BlackRock is among the top organizations owning $MSTR (14.6M shares)
🔹 A strategy holding ~$15B BTC at Fidelity
🔹 Fidelity distributes IBIT, providing commission-free services to customers
If the situation continues, BlackRock may sell more $MSTR or BTC, putting the mNAV EV of the strategy at risk of falling below 1
The American market makers now are no different from openly manipulating BTC 🙏
