Blockchain data reveals that the iShares Bitcoin Trust by BlackRock is now backed by over $48.9 billion worth of Bitcoin.
On December 5, as Bitcoin’s price dropped to $92,957, significant acquisitions were made, with BlackRock, MARA Holdings, and an unidentified whale collectively adding 9,773 Bitcoins to their holdings.
BlackRock Acquires 7,750 Bitcoins
The largest buyer in this wave was BlackRock, adding 7,750 Bitcoins, increasing its total holdings to $48.9 billion.
Thomas Fahrer, founder of crypto market firm Apollo, described their spot Bitcoin ETF as the “fastest-growing ETF ever.”
These purchases reflect rising investor demand for shares in BlackRock's spot Bitcoin fund.
MARA Holdings Boosts Bitcoin Reserves by 162%
MARA Holdings, a Bitcoin mining company, purchased 1,423 Bitcoins worth approximately $139.5 million over two days.
This follows the issuance of $850 million in convertible notes, which the company used to accumulate more Bitcoin.
MARA now holds 22,108 Bitcoins valued at $2.17 billion, a 162% increase from the previous month.
In Q3, MARA adopted a treasury policy to retain all mined Bitcoins and leverage capital market tools to strengthen its reserves.
A Whale and Other Firms Take Advantage of the Price Dip
An unidentified whale acquired 600 Bitcoins worth nearly $58.9 million during the price drop on December 5.
According to BitInfoCharts, the whale’s wallet, identified as bc1pg...u0pk3, only began transactions on November 24.
Meanwhile, healthcare technology firm Semler Scientific also capitalized on the dip, purchasing 303 Bitcoins at an average price of $96,779 USD. This brought their total holdings to 1,873 Bitcoins, valued at $182.8 million.
Total Bitcoin Holdings by Public Firms
According to data from BitcoinTreasuries:
Public companies like Semler Scientific collectively hold 527,026 Bitcoins, representing 2.66% of the current Bitcoin supply.
Governments own 2,856 Bitcoins, while asset management firms and private companies hold 1,253 BTC and 410,418 BTC, respectively.
Current Bitcoin Price
As of writing, Bitcoin is trading at $97,580, down 4.9% over the past 24 hours. Despite the slight dip, investors continue to expand their Bitcoin reserves, showcasing long-term confidence in the cryptocurrency.
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