đ±đđđ BlackRockâs aggressive push into Bitcoin has brought its holdings to nearly 350,000 BTC, making it the third-largest holder globally after Satoshi Nakamoto and Binance, according to on-chain data.
This substantial accumulation comes as BlackRock continues to establish itself as a dominant player in the cryptocurrency space, driven by its various ETF products and growing interest from institutional investors.
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BlackRockâs entry into Bitcoin has been a major turning point for the industry. Historically, BlackRock CEO Larry Fink was a vocal skeptic of Bitcoin, dismissing it as a speculative and potentially dangerous asset.
However, his stance has undergone a radical transformation over the past years. Fink now sees Bitcoin as an âinternational assetâ with transformative potential for finance. This change of heart has been a catalyst for BlackRockâs deepening involvement in the cryptocurrency market.
The firmâs flagship product, the iShares Bitcoin Trust (IBIT), is a central component of this strategy. Launched earlier this year, IBIT quickly gained traction among institutional investors looking for secure exposure to Bitcoin. As a result, BlackRockâs holdings have neared 350,000 BTC. For perspective, this amount is only exceeded by Satoshi Nakamotoâs estimated 1.1 million BTC stash and Binanceâs holdings, which are reported to be around 550,000 BTC.