🤯 MILLIONAIRE SURPRISE! 🤑 Blackstone, the FINANCIAL GIANT, dives into #bitcoin ! Is this the signal we've been waiting for? 🚀🏦
📢 A news story that could be a tremor in the world of finance has just come to light: Blackstone, which proclaims itself the "largest alternative asset manager in the world," has made its first cryptocurrency-related purchase! 🥳 They revealed that as of March 31, they owned shares of the $BTC cash ETF (IBIT) from BlackRock worth just over a million dollars! 💸 Yes, it’s a "small" fraction of their gigantic portfolio of 1.2 trillion dollars, but it’s a HUGE step! 👣 Blackstone acquired 23,094 shares of IBIT and added them to its Alternative Multi-Strategy Fund, which already manages 2.63 billion dollars. Additionally, they also bought shares of Bitcoin Depot Inc. (crypto ATM operator) and the ProShares Bitcoin ETF (BITO)! 🏧
This move is particularly significant because Blackstone, despite its title of "alternative asset manager," had always shied away from cryptocurrencies. Even its CEO, Steve Schwarzman, said in 2019 that he found the use of blockchain for money to be "quite strange" and that he didn’t understand much about the technology! 🤷♂️ It seems that time and the unstoppable rise of Bitcoin have made him change his mind! 💡 Meanwhile, other big players are making their moves. The Wisconsin State Investment Board, which was a pioneer in giving exposure to #BTC to U.S. retirees, sold its 3.7 billion dollars in IBIT shares during the first quarter! 😲 But that hasn't stopped BlackRock's IBIT, which has gone six weeks without outflows and 20 days of consecutive inflows! 🎉 It has accumulated over 46.1 billion dollars in net inflows since its launch. 🔥
🤔 Do you think Blackstone's investment, however small it may seem, is the beginning of a massive wave of institutional adoption of Bitcoin?
