Bitcoin's 20 millionth coin mined, institutional flows drive 8.09% BTC rally

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Bitcoin’s 20 millionth coin has been mined, with approximately 1 million remaining before the 21 million supply cap. BTC has risen 8.09% since February 24 as capital shifts from gold to crypto. ETF inflows and Coinbase premiums indicate strong institutional demand. Inflows and outflows between February 24 and March 6 show a clear pattern, with inflows resuming recently. MicroStrategy’s STRC stock has traded at a four-day premium, potentially channeling $130–180 million into Bitcoin. If STRC reaches $100, the company could raise additional capital to purchase more BTC.

Odaily Planet Daily reports: The 20 millionth Bitcoin has been mined, leaving only about 1 million coins remaining until the 21 million supply cap. Since February 24, influenced by the Iran conflict, Bitcoin has risen 8.09%, while gold has declined 0.42% over the same period, indicating a trend of capital shifting from gold to digital assets.

In the U.S. market, Coinbase’s premium and sustained BTC ETF inflows indicate that U.S. buyers are driving this rally. Large single-day inflows occurred between February 24 and March 4, followed by minor net outflows on March 5–6, after which the inflow trend resumed over the past two days. MicroStrategy’s preferred stock, STRC, has traded at a premium for four consecutive trading days alongside record trading volumes; over the past two days, this premium is estimated to have directed approximately $130 million to $180 million specifically toward Bitcoin purchases—equivalent to about 40% of a strong ETF inflow day. When STRC trades above $100, MicroStrategy can efficiently raise capital through at-the-market offerings to fund additional Bitcoin purchases.

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