Bitcoin (BTC) News: BlackRock's Massive Purchases Fueling Market
BlackRock's Remarkable Bitcoin Acquisitions
In a surprising twist in Bitcoin (BTC) news, BlackRock has made headlines by purchasing more than $680 million worth of Bitcoin in just two days. The initial acquisition occurred on October 15, where BlackRock acquired BTC valued at over $294 million. This massive investment was followed by another purchase exceeding $390 million the next day.
BlackRock's Strong Position in BTC
BlackRock’s excitement for Bitcoin is underscored by the remarkable performance of its IBIT ETF. Highlighted as one of the most successful ETFs in history, with over $25 billion in assets under management (AUM), the IBIT ETF has become increasingly popular. Eric Balchunas recently recognized IBIT as one of the decade's top performers.
- Jay Jacobs, BlackRock’s US Head of Thematics and Active ETFs, anticipates a future Bitcoin market size exceeding $30 trillion.
- CEO Larry Fink has openly praised Bitcoin's potential this month.
This significant interest from BlackRock could foreshadow a major shift in institutional investment in Bitcoin (BTC) and its overall market position.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.