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Sujit Kumar
Oct 28, 2024
by Sujit Kumar

BlackRock’s Bitcoin Holdings Near Satoshi Nakamoto’s Level Amid ETF Growth

BlackRock’s Bitcoin Holdings

Table of contents

  1. Surging Bitcoin ETF Inflows
    1. Community Response and BTC Market Sentiment
    2. Will Institutional BTC Ownership Lead to “Bitcoin Wars”?
In a significant milestone for institutional cryptocurrency investment, BlackRock has now amassed over 400,000 Bitcoin (BTC), valued at nearly $27 billion. According to Lookonchain, the financial giant’s recent additions of 34,085 BTC, worth approximately $2.3 billion, highlight BlackRock’s expanding influence in the crypto space as it builds one of the largest BTC portfolios globally.

Surging Bitcoin ETF Inflows

BlackRock’s Bitcoin ETF, known as IBIT, has seen explosive growth, recently crossing the $23 billion mark as investor interest surges. Since October 14, IBIT has experienced consistent inflows, with daily investments nearing $400 million. These figures underscore BlackRock’s strategic approach to BTC amid rising adoption and growing investor confidence in its ability to drive a strong Bitcoin portfolio.

Community Response and BTC Market Sentiment

The crypto community is reacting positively to BlackRock’s BTC accumulation, contributing to Bitcoin’s recent rise. BTC is now trading at $67,773, with a 1% gain in the past 24 hours. CoinMarketCap data shows the Relative Strength Index (RSI) hovering above the neutral mark, indicating that bullish momentum may continue to outpace bearish trends.

Will Institutional BTC Ownership Lead to “Bitcoin Wars”?

With BlackRock’s aggressive accumulation, some speculate that a “Bitcoin war” could be on the horizon, where large corporations like BlackRock might attempt to assert more control over the Bitcoin network. Although this remains speculative, BlackRock’s growing influence has prompted concerns about centralization within the decentralized Bitcoin network. However, other major players such as MicroStrategy, Tesla, and Binance continue to accumulate Bitcoin, raising questions about whether any single institution can dominate BTC ownership.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Satoshi Nakamoto ETF BlackRock’s Bitcoin Holdings
BlackRock’s Bitcoin Holdings Near Satoshi Nakamoto’s Level Amid ETF Growth
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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