BlackRock Adds $72.8 Million Worth of Bitcoin Before Halving: Whale Accumulation Intensifies
BlackRock has significantly increased its Bitcoin (BTC) holdings, adding a substantial $72.82 million worth of the cryptocurrency just before the highly anticipated halving event. Crypto analysis firm LookOnChain reports that BlackRock acquired an additional 1162 Bitcoin, boosting its total BTC holdings to an impressive 272,139 BTC, currently valued at a considerable sum.
This latest purchase comes as BlackRock’s iShares Bitcoin ETF (IBIT) continues to experience strong inflows. According to data from BitMEX Research, IBIT saw inflows of $778.3 million worth of Bitcoin, indicating strong investor demand for BlackRock\'s Bitcoin product. BlackRock’s best-performing IBIT ETF has amassed more than 250k BTC since its launch on January 11th.
The fund now holds around 3% of the 21 million bitcoin that will ever exist, highlighting BlackRock\'s dominant position in the Bitcoin market. This aggressive accumulation by BlackRock coincides with predictions of Bitcoin hitting an all-time high of around $112,000 per bitcoin, further fueling market excitement.
The success of spot Bitcoin Exchange Traded Funds (ETFs) is driving market enthusiasm, leading observers to celebrate a "halving" event buoyed by institutional investment. Gracias al éxito de los fondos cotizados en bolsa (ETF, por sus siglas en inglés) de Bitcoin al contado, los observadores del mercado están celebrando un halving que will likely further impact market dynamics.
While BlackRock increased its BTC holdings, Grayscale lowered its exposure. While BlackRock increased its BTC holdings, Grayscale lowered its exposure by 2524 BTC, totaling $158.21 million. Grayscale presently owns 311,621 bitcoins, valued at $19.53 billion. However, BlackRock\'s consistent buying spree, which began in October, including an initial purchase of $680 million worth of the asset over two days, demonstrates a strong long-term belief in Bitcoin\'s potential. BlackRock has gone on a Bitcoin buying spree this October, initially purchasing $680 million worth of the asset over two days before shifting to a steady acquisition
Whales are quickly jumping on dips, bolstering the BTC price rally. Whales are quickly jumping on dips bolstering the BTC price rally. Bitcoin adoption is accelerating, and with BlackRock leading the charge, the cryptocurrency\'s future looks increasingly promising. Hace 1 día A serious BlackRock continues to dominate the headlines.