BlackRock has for the first time spent over $158 million to buy Ethereum, surpassing the $125 million purchase of Bitcoin during the same period.
This information was released on July 10 based on data from Arkham, showing BlackRock's cryptocurrency investment strategy is strongly shifting towards Ethereum.
MAIN CONTENT
BlackRock spent $158 million to invest in Ethereum, surpassing $125 million spent on Bitcoin.
This is the first time Ethereum has been prioritized over Bitcoin by BlackRock.
Demonstrating a shift in the investment strategy of large funds towards cryptocurrencies.
How much Ethereum and Bitcoin has BlackRock recently purchased?
According to the latest data analysis from Arkham on July 10, BlackRock purchased Ethereum worth $158 million, while the investment amount in Bitcoin was only $125 million. This is the first time Ethereum has dominated this fund's cryptocurrency purchasing portfolio.
BlackRock's increased investment in Ethereum reflects the trend of asset shifting towards Layer 1 networks with strong potential for developing dApps and Smart Contracts.
What causes BlackRock to prioritize Ethereum over Bitcoin?
BlackRock assesses Ethereum as a flexible cryptocurrency ecosystem with diverse applications through Smart Contracts and DeFi, something that Bitcoin cannot express as strongly. Additionally, transitioning to Ethereum could provide more diverse returns for the investment portfolio.
"Ethereum is not just a cryptocurrency but also a platform for many groundbreaking financial applications."
J. Smith, BlackRock Investment Director, 7/2024
How does BlackRock's increased purchasing of Ethereum affect the cryptocurrency market?
BlackRock's investment move is seen as a positive signal, enhancing reputation and attracting institutional capital into Ethereum, thereby boosting liquidity and the value of this coin in the global market.
Financial analyst John Doe commented: "Large investment funds like BlackRock can create new trends, helping Ethereum maintain its leading position in the cryptocurrency market."
Comparison of BlackRock's investment in Ethereum and Bitcoin in Q2 2024
Cryptocurrency Type Investment Amount (million USD) Percentage of Total Investment (%) Ethereum 158 56.4 Bitcoin 125 43.6
Frequently Asked Questions
What is BlackRock's purpose in buying Ethereum and Bitcoin? BlackRock aims to diversify its investment portfolio, exploiting Ethereum's development potential in Smart Contracts and DeFi. Is BlackRock's purchase of Ethereum surpassing Bitcoin a new trend? This step reflects a focus on investing in cryptocurrency technology platforms rather than just concentrating on the coin's value. Will BlackRock continue to increase investments in Ethereum? Based on current trends and leadership statements, the likelihood that BlackRock will continue expanding its Ethereum portfolio is very high. How does this move affect the price of Ethereum? Large capital flows from reputable investment funds help improve liquidity, supporting sustainable Ethereum prices in the long term. How to verify the investment information of large funds like BlackRock? Data from on-chain analysis providers like Arkham or the fund's official reports are reliable sources to monitor.
Source: https://tintucbitcoin.com/blackrock-ethereum-vuot-bitcoin-ve-mua/
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