BlackRock Makes Largest Bitcoin Purchase Ever, Buys 8,690 BTC Worth $1.12 Billion

Nov 12, 2024, 05:53 AM

BlackRock has made a significant investment in Bitcoin, purchasing 8,690 BTC worth approximately $1.12 billion. This marks the largest inflow of Bitcoin ever for the asset management giant. The purchase, which occurred on Friday, has sparked discussions about a potential supply shock in the cryptocurrency market, as only 459 BTC were mined during the same period. Additionally, BlackRock bought $765.45 million worth of Bitcoin yesterday and $756 million recently.