🚨 MAJOR UPDATE: BlackRock Doubles Down on #bitcoin 🚀
BlackRock, the world’s largest asset manager, just acquired $287,500,000 worth of $BTC This move further solidifies their position as a titan in the crypto space. 💥
For context, BlackRock has been steadily increasing its crypto exposure. Earlier this year, their iShares Bitcoin Trust held 559,262 BTC, valued at approximately $58.51 billion (as of January 2025). With this latest purchase, their Bitcoin holdings are now estimated at around $58.8 billion.
Additionally, BlackRock has invested heavily in Bitcoin mining companies, pouring $384 million into firms like Marathon Digital Holdings, Riot Blockchain, Bitfarms, and Hut 8 Mining, which collectively control over 7% of the Bitcoin network’s hash rate. They also hold an indirect stake in over 6,600 Bitcoins through MicroStrategy, worth over $300 million as of late 2024.
Beyond Bitcoin, BlackRock has expanded into Ethereum with the iShares Ethereum Trust, though specific figures for their $ETH holdings remain less detailed.
CEO Larry Fink has been vocal about Bitcoin’s potential, calling it a hedge against currency debasement and political instability, with a price target of $500K–$700K per coin. Clearly, BlackRock is all in on crypto as a long-term play. 📈
What do you think about this move? Are we heading for a massive $BTC rally?
