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Produced by Daniel Aharonoff & Mogul Media AI

Bitcoin Spot ETFs Attract $3 Billion in One Month

Bitcoin Spot ETFs: A New Era in Investment The recent launch of Bitcoin spot exchange-traded funds (ETFs) in the United States has ushered in a remarkable financial phenomenon, capturing the attention of investors and analysts alike. Within just a month, these pioneering investment vehicles have attracted over $3 billion in net flows, a figure that notably eclipses the initial performance of gold ETFs when they made their market debut two decades ago. This trend signals not only a shift in investor sentiment but also a redefinition of traditional asset allocation strategies. For those looking to dive deeper into this area, the Comprehensive Guide to Spot Bitcoin ETFs offers valuable insights into navigating these new financial waters. Key Highlights Impressive Net Flows : Bitcoin spot ETFs have drawn over $3 billion in net flows within their first month, demonstrating robust market enthusiasm. Comparison to Gold ETFs : This performance surpasses that of gold ETFs at their inc
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Produced by Daniel Aharonoff & Mogul Media AI

Exploring the Artistic Brilliance: Bitcoin Ordinals Inscription Sale at Sotheby's

The recent sale of a Bitcoin Ordinals inscription from the Quantum Cat project at Sotheby's has garnered significant attention, with the winning bid reaching over $250,000. This particular piece, known as the "Genesis Cat" Ordinals inscription, created by digital artist FAR, received an impressive 50 bids, ultimately selling for 6.31 BTC, equivalent to approximately $254,000.

Key Points:

  • The Quantum Cats collection of Bitcoin Ordinals inscriptions was announced earlier this month by Taproot Wizards.
  • The collection, consisting of 3,333 images, cost over $66,000 to create on the Bitcoin blockchain.
  • The wider sale of the Quantum Cats collection is scheduled for January 29.
  • Udi Wertheimer, co-founder of Taproot Wizards, highlighted that the collection pays homage to an early code in the Bitcoin network called concatenate or OP CAT.
  • Sotheby's head of digital and contemporary art, Michael Bouhanna, congratulated the artists and collectors involved in the sale, giving a special mention to FAR for their assistance in curating and organizing the event.
  • The Natively Digital curated Ordinals sale generated over 26 BTC, valued at around $1,097,000, with 641 bids and all auction lots being sold.
  • Bouhanna noted that half of the sale exceeded their high estimates, indicating strong interest and demand in Bitcoin Ordinals.
  • While this marks the first Bitcoin Ordinals-centric sale at Sotheby's, the auction house has previously conducted numerous NFT sales on Ethereum, including notable auctions like the sale of an Art Blocks NFT named "The Goose" for $6.2 million last June.

This successful sale not only underlines the growing significance of digital art and NFTs in the art world but also showcases the increasing interest in blockchain-based artworks and collectibles among both artists and collectors.

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