๐ BlackRock's Big Bet: 11,500 Bitcoins Secured! ๐๐ฐ
In a bold move, global asset management giant BlackRock snatched up 11,500 bitcoins amidst the recent market dip following the launch of its Bitcoin ETF. This hefty purchase, equivalent to 13 days of Bitcoin mining, underlines the surging interest of institutional players in the crypto game.
๐ CEO Larry Fink's Change of Heart:
BlackRock's CEO, Larry Fink, has shifted his perspective on Bitcoin, now recognizing it as a "viable asset class." This transformation prompted the asset management powerhouse to dive headfirst into the world of cryptocurrency.
๐ก Unique Timing:
Amid the daily mining output of just 900 $BTC , BlackRock's acquisition stands out. The company essentially absorbed nearly two weeks of Bitcoin mining, showcasing unwavering confidence in the digital currency.
๐ ETF Impact:
The iShares Bitcoin Trust (IBIT), managed by BlackRock, fueled about 25% of the two-day trading volume, accounting for roughly 46,000 BTC. This strategic move adds another layer of intrigue to the crypto landscape.
๐ค What's your take on BlackRock's significant Bitcoin investment?
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