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MicroStrategy Should Continue to Rally as Bitcoin Halving Nears: Benchmark

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Will Canny is CoinDesk's finance reporter.

The software company is well positioned to benefit from the upcoming bitcoin halving, the report said.halving set to occur around April 20, when new supply of the cryptocurrency will be cut by 50%, broker Benchmark said in a research report on Monday.

“While the upcoming bitcoin halving will create a supply shock as the previous ones had, we believe the event’s impact could be magnified by the concurrent demand shock created by the emergence of spot bitcoin exchange-traded funds ,” Palmer wrote, adding that “we expect inflows into spot bitcoin ETFs to grow dramatically once institutions begin to invest in them in earnest.”

 

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BlackRock's Bitcoin ETF Nears 200K BTC, Passing Michael Saylor's MicroStrategyHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
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