How Bitcoin climbs to $140k next as ETF conversions drain BTC supply

Some of Bitcoin’s biggest holders, popularly known as whales, are quietly moving billions of dollars’ worth of coins into spot exchange-traded funds (ETFs). On Oct. 21, Bloomberg reported that these whales executed roughly $3 billion in in-kind transfers through BlackRock’s iShares Bitcoin Trust (IBIT). Instead of selling, they handed their Bitcoin to the ETF in The post How Bitcoin climbs to $140k next as ETF conversions drain BTC supply appeared first on CryptoSlate.