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Coin Stories with Natalie Brunell
News Block: Gold & Bitcoin Outperform S&P 500, Spot Bitcoin ETFs to Launch in China? Americans Skipping Meals to Afford Housing Costs, Fed President Compares Bitcoin to Beanie Babies
Apr 8, 2024
10:41
Snipd AI
Topics covered in the podcast include Chinese firms applying for Bitcoin ETFs, Bitcoin and Gold outperforming S&P 500, Americans skipping meals to afford housing costs, Fed President comparing Bitcoin to Beanie Babies, and a Senator questioning whether the US should hold Bitcoin.
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Quick takeaways
- Bitcoin ETF demand highlights market popularity and diverse market factors at play.
- Rising living costs drive Americans to sacrifice meals for housing, pushing towards Bitcoin as a wealth preservation strategy.
Deep dives
Bitcoin ETFs' Rise and Genesis's Bitcoin Acquisition
Bitcoin ETFs like BlackRock's I-Bit and Fidelity's FBTC have seen increasing demand, with cash inflows for 59 consecutive days, highlighting their popularity in the market. Meanwhile, Genesis sold its GBTC shares worth over $2 billion to purchase 32,000 Bitcoins, dispelling the assumption that GBTC outflows were solely responsible for Bitcoin's sell-off. This indicates diverse factors influencing Bitcoin's market movements.
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