BlackRock, the world's asset management giant, has once again shown its strong interest in Bitcoin. Through their Spot Bitcoin ETF product, iShares Bitcoin Trust (IBIT), BlackRock reportedly bought back 2,240 BTC worth US$232.9 million (around Rp3.7 trillion), according to data from CoinGlass.
This accumulation move extends the positive inflow trend of IBIT for 12 consecutive trading days. Interestingly, despite no purchases the day before, BlackRock immediately 'struck back' with a large purchase. In fact, their largest purchase reached US$674 million in one day.
Not only that, the total inflow over the last two weeks reached an astonishing figure of US$4.5 billion—real proof that major institutions are increasingly aggressively entering crypto assets, especially Bitcoin.
It is worth noting that at the time this article was written, the price of Bitcoin was around US$102,560, with a daily correction of about -1.17%. Nevertheless, moves like this from major institutions like BlackRock could be a long-term bullish signal for the market.
What Does It Mean for Retail Investors?
The presence of major players like BlackRock is a strong signal that confidence in Bitcoin is increasing, not just as a speculative asset, but also as part of an institutional investment portfolio. This could pave the way for wider adoption and potential price rallies in the future.
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Image Source: Bloomberg
If you are interested in entering the crypto world, now might be the right time to learn more. Who knows, you could be part of the next big wave!