BlackRock has just acquired 5.6% of KULR Technology, a publicly listed company in the United States.
As of July 9, KULR Technology holds a total of 1,021 Bitcoin, demonstrating a strong position in the cryptocurrency asset field.
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BlackRock invests in KULR Technology with a 5.6% ownership stake.
KULR Technology owns over 1,000 Bitcoin as of early July.
How much has BlackRock invested in KULR Technology?
BlackRock currently owns 5.6% of KULR Technology's shares, according to an official announcement on July 18, 2024. This is a strategic move by this asset management giant to expand its investment portfolio in the Blockchain and cryptocurrency sectors.
"Investing in KULR Technology is evidence of BlackRock's commitment to promoting the development of effective and secure Bitcoin cooling storage technology."
Gregory Davis, Chief Investment Officer of BlackRock, 2024.
BlackRock is the largest asset management company in the world, with over $10 trillion in assets under management in 2024. Their stake in KULR further reinforces the trend of institutional investors turning toward the professional cryptocurrency market.
How much Bitcoin is KULR Technology holding?
As of July 9, KULR Technology has a total of 1,021 Bitcoin. This amount demonstrates the company's strong commitment to storing and managing cryptocurrency assets at a significant scale.
KULR Technology focuses on developing cooling technology solutions for the secure storage of Bitcoin and other digital assets. Holding a large amount of Bitcoin helps boost their credibility in the market and attract major investors.
"Maintaining a holding of more than 1,000 Bitcoin confirms KULR's long-term investment strategy and risk management capability."
Lisa Tran, CEO of KULR Technology, 2024.
What is the impact of BlackRock's investment on KULR and the cryptocurrency industry?
BlackRock's investment not only enhances the value of KULR but also creates a positive effect for the entire technology storage and security industry for cryptocurrency assets. This fosters confidence from other institutional investors in the Blockchain field.
According to the cryptocurrency market report at the end of 2023, institutional capital accounted for more than 30% of the total trading volume, showing the growing appeal of the industry to reputable investment funds.
Comparing the scale of Bitcoin holdings of cryptocurrency technology companies
Company Bitcoin holdings (BTC) Latest investment (%) KULR Technology 1,021 BlackRock – 5.6% MicroStrategy 130,000 n/a Galaxy Digital 16,402 n/a Coinbase has not disclosed specific figures n/a
Frequently Asked Questions
What is BlackRock, and why are they investing in KULR Technology?
BlackRock is the largest asset management company in the world, and they invest in KULR to expand their cryptocurrency technology portfolio, leveraging the potential for developing secure digital asset storage.
What does KULR Technology hold Bitcoin for?
KULR uses Bitcoin as an asset to support the development of cooling technology and secure storage for cryptocurrency assets, contributing to the establishment of industry standards.
How does BlackRock's investment affect the cryptocurrency industry?
This increases the confidence of institutional investors, driving significant capital flows into Blockchain technology and digital asset security.
Should we keep an eye on KULR Technology for cryptocurrency investment?
With support from BlackRock and a large amount of Bitcoin, KULR is a company with long-term investment potential in the field of secure cryptocurrency storage.
Could BlackRock's ownership stake increase in the future?
BlackRock can increase its ownership stake depending on its development strategy and the global cryptocurrency market outlook.
Source: https://tintucbitcoin.com/kulr-technology-blackrock-so-huu-56/
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