BlackRock recently purchased 2,660 Bitcoin, valued at approximately $223 million, through its iShares Bitcoin Trust ETF, according to Arkham Intelligence data.

This acquisition underscores BlackRock’s strategy to increase its cryptocurrency holdings and reflects growing institutional interest in Bitcoin amid economic uncertainty.

BlackRock Expands Crypto Portfolio with New BTC Purchase

BlackRock’s acquisition of 2,660 Bitcoin is part of a growing trend among institutional investors to diversify portfolios. The purchase brings their total Bitcoin holdings to over 570,000 BTC. Invest in Bitcoin through iShares Bitcoin Trust.

Larry Fink, BlackRock CEO, has expressed optimism about Bitcoin’s potential as a hedge against economic instability. This move further aligns with BlackRock’s strategic goals for its cryptocurrency investment products.

Bitcoin Trading at $84,500 as Institutional Interest Grows

The latest price data indicates that Bitcoin is currently trading at $84,500, experiencing a fluctuation between $84,000 and $85,000. Analysts suggest that this trend aligns with previous market movements, reinforcing historical price patterns.

Experts predict that institutional interest like BlackRock’s could lead Bitcoin to further price increases. However, market volatility remains a persistent concern, impacting long-term adoption and investment strategies.

Institutional Investment Signals Mainstream Potential for Bitcoin

Previous purchases by large investors have similarly influenced Bitcoin’s market trajectory. As seen after Fidelity’s entry into the crypto market, such purchases often signal potential price appreciation.

Expert insights suggest that, like during past market cycles, increased institutional investment might bolster Bitcoin’s status as a mainstream asset. Yet, regulatory challenges continue to pose potential risks.
“BlackRock recently purchased 2,660 BTC (worth approximately $223 million) for its iShares Bitcoin Trust ETF (IBIT).”

The post BlackRock Acquires 2,660 BTC, Boosting Bitcoin Holdings appeared first on Kanalcoin.

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Filed under: News - @ March 20, 2025 9:19 am