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The world’s largest investment asset manager, BlackRock, bought $1 billion worth of Bitcoin. The acquisition would have occurred in a recent period, specifically during the last 48 hours, as reported by the Arkham Intelligence firm. With this, the financial giant joins the massive purchasing hysteria.
Arkham revealed this information in a recent publication on its X account. The context in which this purchase occurs is striking. Many experts expect the price of the largest Cryptocurrency to experience an unprecedented jump thanks to Donald Trump.
The tycoon promised great news for the world of cryptocurrencies. Among them, the incorporation of Bitcoin to the strategic reserves of the United States stands out. Regarding the latter, Bitwise CIO Matt Hougan recently stated that this would make it easy for the price of BTC to reach $500K.
The fact that BlackRock joined the trend and bought Bitcoin in large quantities reveals the enormous confidence in the currency. This purchase adds to other huge acquisitions by MicroStrategy, which could guide the price of the currency towards enormous appreciation in a few months.
BlackRock redoubles its commitment to Bitcoin
BlackRock’s interest in the largest digital currency is one of the most important news for the crypto market in its history. And it is no wonder, considering the enormous weight of this asset manager. As Forbes reported a few weeks ago, leaked information would have revealed how the firm is redoubling its bet on Bitcoin.
With the recent purchase reported by Arkham, it is now known that these plans do not only focus on managing their investors’ BTC. In addition to this, he also has enormous interest in accumulating own funds in large quantities.
It is important to take into consideration that this firm has the means to compete, not only with MicroStrategy, but with the US government itself in the holding of BTC. Another curious fact related to BlackRock and BTC is that the firm wants to focus on ETFs of this currency and leave aside the issuance of Altcoin products.
As recently reported, they will stay with the BTC and ETH products and will delve into the offers related to them. Another fact that draws attention is the Bitcoin promotional video made by the firm. It includes several crucial values of the currency such as its decentralization and its scarcity.
In simple words, it can be said that BlackRock buying Bitcoin in massive quantities should not come as a surprise.
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