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Millionaire Mania Spikes as Rich People Flock to Digital Dinosaurs

Crypto NewsFeaturedInstitutional Investors Kevin Nelson October 21, 2024

A illustration depicting twelve giant robotic dinosaurs standing side by side, each one labeled with an ETF ticker symbol (e.g., IBIT for Blackrock's Ishares Bitcoin Trust). The robots are surrounded by a massive digital bitcoin chart rising rapidly upwards, while the background is filled with screens displaying real-time market data and news headlines. A large red '1 MILLION' target in bold font looms over the scene.

It’s official: we’ve got a bunch of rich people playing with digital money, and they’re getting close to owning enough Bitcoin to buy a decent house or two (or 42,000+ BTC). On Friday, spot bitcoin ETF activity revealed that the already-ridiculous $1 million BTC milestone is now mere weeks away. We all knew this was coming: after nine months of SEC approvals for 11 crypto-exchange-traded funds (ETFs), and Grayscale’s Bitcoin Mini Trust joining the party, it wasn’t long before we’d hit this absurd number.

Source: bitcoin.com

Bitcoin ETF Holdings Push Steadily Toward the 1 Million BTC Threshold
https://news.bitcoin.com/bitcoin-etf-holdings-push-steadily-toward-the-1-million-btc-threshold
Following Friday’s spot bitcoin exchange-traded fund (ETF) activity, the numbers reveal that the 12 ETFs are on the brink of reaching the impressive milestone of 1 million bitcoins. As of this weekend, the funds are just shy of 42,000 BTC from hitting that target. Nine months ago, the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs. With Grayscale’s Bitcoin Mini Trust now in the mix, the count […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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