BlackRock's public financial disclosures

BlackRock and Metaplanet Increase Bitcoin Holdings with $742M Purchase, Now Hold 1.76% Supply

Oct 11, 2024, 04:37 PM

BlackRock has significantly increased its Bitcoin holdings amid the cryptocurrency's recent price dip below $60,000. Over the past 16 days, BlackRock purchased $742 million worth of Bitcoin, bringing its total holdings to 369,822 BTC, valued at approximately $22.4 billion. This strategic move comes as the market experienced $196 million in liquidations and Bitcoin's price fluctuated around key resistance levels. Additionally, BlackRock sold 182 BTC worth $11.34 million and bought 7,574 ETH for $18.52 million, reflecting a diversified investment approach. Metaplanet also participated in the buying spree. BlackRock now holds 1.76% of the Bitcoin supply in only 10 months.