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🌊 Govt's Secret Inflation Data

Your Daily Bitcoin Flows update, from Apollo

Author

Julian Fahrer
April 10, 2024 • Estimated Reading Time: 4 minutes

Welcome back to your daily update on institutional Bitcoin flows.

Now entering the flow state…🌊🌊🌊

🥇 Blackrock

IBIT took the lead again after taking Monday off, with 1.9k BTC (~USD $130m) inflows.

🦨 Grayscale

GBTC outflows slowed yesterday compared to Monday, but still saw another 2.3K BTC go out the door. (~USD $155m).

🧮 Total

Basically a break-even day overall, with a small outflow of 270 BTC (~USD $19m)

High Fidelity Analysis

Jurrien Timmer, Director of Global Macro at Fidelity, posted this cool chart comparing the performance of various asset classes so far in 2024. Notice there’s one massive outlier…

  • It appears the Bureau of Labor Statistics has a secret group of ‘super users’, including Blackrock and JP Morgan, that it gives special access to inflation data. As if we needed more reason to doubt the official inflation narrative…

  • Deutsche Bank surveyed their customers about bitcoin, and they’re a bunch of bears: only 10% predict BTC above $75k by year’s end, with a third predicting a dip to $20k.

  • $4T asset manager State Street predicts a 0.5% interest rate cut from the Fed by June, and 1.5% by the end of the year. Buckle up.

  • The second annual Bitcoin Policy Summit was hosted by the Bitcoin Policy Institute in Washington DC. A number of policymakers participated in talks on subjects like ‘Mining in America’, ‘Bitcoin & Financial Inclusion’, and ‘Bitcoin Against Autocracy’.