Last night, BlackRock stated that allocating up to 2% of its portfolio to Bitcoin is a reasonable range.

As of the end of the third quarter of 2024, BlackRock's assets under management reached $11.5 trillion. Currently, BlackRock's IBIT holdings amount to 530,831.8302 BTC, with a market value of approximately $53,865,384,952.96. If the portfolio funds are calculated at 2%, the market value of Bitcoin investments should reach around $230 billion to just hit 2%. Therefore, there is still significant room for institutional demand, and the peak bull market is yet to come.