#blackRock In a recent revelation from Arkham Intelligence, it has been confirmed that BlackRock, the worldās largest asset manager, is currently offloading Bitcoin. (
$BTC ) holdings through its exchange-traded fund (
#ETF ) iShares Bitcoin Trust (IBIT). Contrary to earlier expectations of continued purchases, the firm is now selling Bitcoin, signaling a change in strategy. Arkham Intelligence shared the news on social media, accompanied by a detailed analysis of the transaction flows, showing a clear move away from Bitcoin by BlackRock.
The announcement has raised concerns within the crypto community, as BlackRockās influence in the space had grown significantly following its Bitcoin ETF launch. Many analysts previously believed that the firmās presence played a crucial role in driving
$BTC ās recent price surge. However, Arkham Intelligenceās findings suggest that BlackRockās decision to sell could be a response to the recent pullback in Bitcoinās market value.
The situation has further intensified following BlackRock's significant sell-off of $188.7 million worth of Bitcoin on December 26, marking its largest liquidation to date. On the same day, the firm moved $1.88 billion in BTC to Coinbase wallets in a series of transactions, leaving the market uncertain about whether
#BlackRockā© intended to fully divest its holdings. This move has sparked speculation that BlackRock may be positioning itself for a market correction, with some investors viewing the sell-off as a bearish sign, while others perceive it as an opportunity to buy at lower prices.
In addition to these moves, BlackRockās Bitcoin
#ETF , IBIT, recorded a notable outflow of $332.6 million on January 2, 2024āthe largest net outflow in a single day. Despite some subsequent inflows, the pattern of outflows has raised alarms among market watchers. As of now, IBIT holds over $56 billion in assets, maintaining its position as the largest Bitcoin ETF globally. While the firm has played a pivotal role in BTCās recent rally, these recent sales and outflows could signal a shift in its approach to Bitcoin, prompting both institutional and retail investors to reassess their positions.
At the same time,
#BlackRockā© has sparked additional controversy with a video questioning the immutability of Bitcoinās 21 million supply cap. The video, which was widely discussed after being shared by MicroStrategy's Michael Saylor, suggests that there may be room for altering Bitcoin's supply limit. While this notion has drawn mixed reactions, with some fearing potential manipulation of Bitcoin's core principles, others argue that it may be part of a broader strategy to prepare the market for a possible future change.
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