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Who will be the largest institutional investor in Bitcoin by the end of 2024?
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BlackRock Increases Bitcoin Holdings to 408,253 BTC Valued at $29.09 Billion After $322.68 Million Purchase
Oct 29, 2024, 07:07 AM
BlackRock has significantly increased its Bitcoin holdings, now possessing 408,253 BTC valued at $29.09 billion. This comes after a series of substantial purchases, including 4,528 BTC worth $322.68 million yesterday. Previously, BlackRock held 403,725 Bitcoin valued at $26.98 billion. Over the past six weeks, institutional investments in digital assets have surged, particularly following the Federal Reserve's rate cuts. Last week alone saw $901 million in digital asset investments, with Bitcoin leading at $920 million. BlackRock's recent acquisitions include 4,420 BTC and an additional $1.14 billion in assets under management, as well as $315.19 million worth of Bitcoin.
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