Among the latest Bitcoin news, it has emerged that BlackRock has bought as many as 897 BTC, the equivalent of about 53 million dollars. The world’s largest asset manager has implemented the ‘Buy The Dip’ strategy, while the price of BTC has returned above $60,000.
Bitcoin News: BlackRock buys 897 BTC in “Buy The Dip”
BlackRock, the largest asset manager in the world, has bought 897 BTC, implementing the “Buy The Dip” strategy.
Blackrock Buys The Dip
+897 Bitcoin Today pic.twitter.com/9Epd2snABA
— Thomas | heyapollo.com (@thomas_fahrer) August 8, 2024
“Blackrock buys the dip: +897 Bitcoin today”
In practice, at a time when the price of BTC dropped to touch $50,000 last weekend, the issuer of the Bitcoin spot ETF IBIT decided to stock up. The 897 BTC purchased by BlackRock, in fact, are equivalent to about 53 million dollars.
Not only that, there is someone who pointed out that this amount is equivalent to 2 times the daily mined Bitcoin supply.
The move by BlackRock is causing a stir among the crypto community, as many have expressed their opinions claiming that the bull cycle of Bitcoin was “over”.
On the contrary, the investment company among the largest in the world, BlackRock, is instead showing confidence towards the queen of crypto.
Bitcoin news: the purchase by BlackRock and the price of BTC returns above $60,000
Not only that, another great piece of news for the crypto community is seeing the price of BTC return above $60,000, confirming the bullish recovery trend.
At the time of writing, BTC is worth $60,960 and is in a pump of +6.7% compared to 24 hours ago. This data shows the price recovery after the crash that occurred during the last weekend.
And indeed, BTC has crashed starting from Sunday, August 4, reaching its minimum last Monday, August 5, at $50,000.
At that moment, even the BTC Fear and Greed Index had dropped to scores of “intense fear,” confirming the panic in the crypto-community.
Apparently, however, the news of BlackRock that is circulating in these hours seems to be raising the spirits.
Compared to yesterday’s score of 20, today the Bitcoin Fear and Greed Index has returned to the neutral zone, with a score of 48.
Bitcoin Fear and Greed Index is 48 — Neutral
Current price: $61,728 pic.twitter.com/9oNjm2FYrI
— Bitcoin Fear and Greed Index (@BitcoinFear) August 9, 2024
The revelations of Michael Saylor
Always to lift the spirits among crypto-investors, there was also Michael Saylor with some of his revelations.
And in fact, his well-known software company MicroStrategy is officially among the largest in the world as a holder of Bitcoin.
But recently, Saylor also wanted to reveal something more personal that still concerns Bitcoin.
In this regard, Saylor stated that he owns significant shares in bitcoin, emphasizing that they are more than 17,000 BTC and that he has never sold them.
Even without knowing the specific quantity, at the current price, Saylor should hold more than 1 billion dollars in BTC in his personal wallet.
