BlackRock’s iShares Bitcoin Trust (IBIT) Faces Record Outflows
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BlackRock’s iShares Bitcoin Trust (IBIT) experienced unprecedented single-day outflows of $332.6 million on Thursday, 2nd Jan, marking the largest withdrawal in the fund’s history.
By the end of the week, total outflows had surged to $393 million, raising questions about the short-term sentiment surrounding Bitcoin and cryptocurrency investments.
Despite this bearish movement, analysts remain bullish about Bitcoin’s long-term prospects, forecasting a potential price surge to $180,000 in 2025, driven by factors such as nation-state adoption and growing institutional interest.
This bullish outlook is fuelled by increased institutional adoption and a global shift toward digital assets. Nation-state participation could act as a significant catalyst, further solidifying Bitcoin’s role as a global store of value.
BlackRock’s iShares Bitcoin Trust, despite its current challenges, is expected to remain a critical vehicle for institutional and retail investors seeking exposure to the world’s largest cryptocurrency.
