BlackRock CEO Larry Fink previously praised Bitcoin as digital gold and said that most investors should have a small Bitcoin allocation.
BlackRock, the world’s largest asset manager with approximately $11.6 trillion in assets under management, currently holds over 567,000 Bitcoin
According to Arkham Intelligence, the asset manager’s most recent BTC acquisition occurred on March 14 when a Coinbase Prime wallet transferred 268 BTC, valued at over $22 million, to the asset manager’s iShares Bitcoin ETF (IBIT) wallet.
The Bitcoin exchange-traded funds (ETFs) are widely cited as the most successful ETF launch in history, as asset managers like BlackRock drive tens of billions in liquidity to the## crypto markets and disrupt the cyclical capital rotation that characterizes crypto investment.