Leading cryptocurrency Bitcoin (BTC) fell to $58,900 yesterday following the release of the U.S. CPI data, but has since recovered and is back above $60,000.
While declines are always seen as buying opportunities for large investors, market giants BlackRock and Metaplanet have accelerated their purchases of Bitcoin.
According to a Lookonchain post, BlackRock purchased $742 million worth of Bitcoin in the past two weeks, increasing its holdings.
BlackRock, the world’s largest asset manager, has purchased a total of 12,272 bitcoins in the past 16 days.
The ongoing purchases suggest that asset managers are becoming increasingly confident in the long-term value of BTC.
“BlackRock purchased 12,272 Bitcoins worth $742 million in the last 16 days.
Between August 27 and September 24, BTC traded below $60,000 for a long time, while BlackRock’s increase in holdings was minimal.
However, they have continued to buy since September 24, adding another 12,272 BTC. BlackRock currently holds 369,822 BTC, worth $22.4 billion.”
Japanese giants continue to buy Bitcoin!
In addition to BlackRock, Metaplanet, a giant company regarded as the MicroStrategy of Asia, is also buying Bitcoin on dips.
At this time, Metaplanet also made another significant BTC purchase, purchasing approximately 108.99 BTC for 1 billion yen.
The latest purchase comes four days after Metaplanet bought Bitcoin earlier this week.
As of today, October 11, Metaplanet holds a total of 748.50 BTC, with a total value of 6.965 billion yen.
