Donald Trump

Bitcoin

Billion

BlackRock

BlackRock just made another bold bet on Bitcoin, and Wall Street is paying attention. The world’s largest asset manager added $391.8 million worth of Bitcoin to its holdings on October 16, signaling its continued confidence in the digital currency’s future. With this latest purchase, BlackRock’s total Bitcoin stash now exceeds $25 billion—an eye-popping number that’s bound to shake up the market. 
In a move that reaffirms Bitcoin’s growing presence on institutional investors’ radar, BlackRock made a splash with its latest $391.8 million buy-in via its Bitcoin ETF, $IBIT. This hefty purchase came at a time when the market is already abuzz with speculation about the potential approval of more Bitcoin ETFs, as the US prudential election is about to begin. 
Both of the 2024 Presidential candidates, Donald Trump and Kamala Harris, have changed their stance to a positive note on cryptocurrencies, which many believe could open the floodgates for even more institutional money to pour into the crypto market. 
BlackRock CEO Larry Fink has also made it clear that he believes that Bitcoin’s growth will continue, regardless of U.S. political outcomes. No matter who wins, Trump or Harris, <a href="https://www.cryptotimes.io/2024/10/15/bitcoin-will-thrive-no-matter-who-wins-us-elections-blackrock-ceo/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/10/15/bitcoin-will-thrive-no-matter-who-wins-us-elections-blackrock-ceo/" rel="noreferrer noopener">Bitcoin will continue to grow</a>. He has said, “ Bitcoin is an asset of its own class.” 
BlackRock’s latest purchase isn’t just a one-off—it’s part of a broader strategy that set in motion how traditional financial powerhouses are beginning to view Bitcoin as a viable asset class. Pushing its total Bitcoin holdings past the $25 billion mark, BlackRock is leading the charge among institutional players that are increasingly seeing Bitcoin as “digital gold”—a hedge against inflation and an alternative store of value. 
This buy signals more than just confidence in Bitcoin’s long-term value—it’s a clear indication that the asset management giant sees crypto as an important part of its diversified portfolio. While Bitcoin remains a volatile asset, BlackRock’s continued investment could spur others in the space to take Bitcoin more seriously, potentially attracting more institutional players who have been on the sidelines. 
BlackRock’s latest Bitcoin buy is a big deal, both in terms of dollars and the broader message it sends to the world. With its Bitcoin holdings now surpassing $25 billion, BlackRock is cementing its position as a major player in the crypto space, a move that could have ripple effects across the financial landscape. As Bitcoin continues to mature, expect more institutional investors to jump on board especially as BlackRock leads the way. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/10/15/bitcoin-price-surges-6-to-66400-highest-since-july-30/" target="_blank" rel="noreferrer noopener">Bitcoin Price Surges 6% to $66,400, Highest Since July 30</a> 
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BlackRock Buys $391.8M Bitcoin Boosts Holdings to $25 Billion

The Crypto Times

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