BlackRock has again made a significant acquisition of up to $110.7 million in Bitcoin on September 27. As per Lookonchain, a well-known on-chain analytics provider, BlackRock intends to continue its expansion of $BTC holdings with these acquisitions. The analytics platform took to its official social media account to provide the details of BlackRockâs endeavors in this respect.
BlackRock bought another 1,684 $BTC($110.7M)!#BlackRock(IBIT) has bought 7,578 $BTC($497.6M) in the past 4 days and now holds a total of 365,310 $BTC($24.04B).https://t.co/2UQKKBxzrT pic.twitter.com/Xf6FdWdCeN
â Lookonchain (@lookonchain) September 28, 2024
BlackRock Acquires More $1,684 $BTC
In its recent X post, Lookonchain noted that BlackRockâs latest Bitcoin acquisition accounts for 1,684 $BTC, equaling $110.7M. As a result of the respective acquisition, the cumulative Bitcoin holdings of BlackRock have reached 365,310 $BTC. This amount reportedly has an estimated worth of nearly $24.04B.
The latest $BTC acquisition of BlackRock is reportedly part of a series of such purchases that started earlier. Over the last week, the platform has been carrying out a buying spree in an attempt to accumulate Bitcoin. Just in the recent 4 days, the platform has reportedly bought a substantial figure of almost 7,578 $BTC. This amount equals $497.6 million. The continuous $BTC accumulation signifies BlackRockâs mounting confidence in Bitcoin while its institutional demand rises.
The Latest $BTC Acquisition Denotes BlackRockâs Efforts to Enhance Bitcoin Holdings
Before this, on the 26th of September, BlackRock had bought 1,434 $BTC, accounting for $94.3M. The respective amount increased the cumulative holdings of BlackRock to 363,626 $BTC, equaling $23.68B. Just a day back, on the 25th of September, BlackRock carried out another notable purchase. It added 4,460 $BTC with a value of $289M.
