Larry

Bitcoin

BlackRock

<p>BlackRock has made headlines in the <strong>crypto</strong> world with its substantial Bitcoin investments alongside additional capital from <strong>MicroStrategy</strong>. With the recent purchase of $1 billion in BTC and an additional $300 million, BlackRock now holds a total of 399,525 BTC, underscoring growing institutional interest in this digital asset.</p> 
<p><a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" decoding="async" class="size-full wp-image-24541 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Qubetics-is-728x90-1-1.jpg" alt="Qubetics is 728x90 1 1" width="728" height="90" title="BlackRock’s Major Bitcoin Investment: Buys Surge as Prices Rise 51"></a></p> 
<h2 id="blackrock-s-billion-dollar-bitcoin-strategy">BlackRock’s Billion-Dollar Bitcoin Strategy</h2> 
<p>Last week, BlackRock conducted a $1 billion Bitcoin purchase, making it one of the most talked-about moves in the crypto space. Following this, the firm made an additional $300 million investment yesterday, bringing its total Bitcoin holdings to 399,525 BTC.</p> 
<p>This significant accumulation began in early October, when BlackRock initially acquired $680 million in BTC and then started a consistent daily acquisition strategy, buying around 600 BTC per day. This buying spree aligns with high demand for its <strong>Bitcoin ETF</strong>, IBIT, which received notable investor interest. BlackRock CEO <strong>Larry Fink</strong> has frequently emphasized his support for Bitcoin, recognizing it as an independent asset class.</p> 
<h2 id="portfolio-diversification-beyond-bitcoin">Portfolio Diversification Beyond Bitcoin</h2> 
<p>In addition to its Bitcoin accumulation, BlackRock is expanding its portfolio to include assets tied to BTC. Recently, it increased its stake in <strong>MicroStrategy</strong> to 5.2%, reinforcing its confidence in the crypto market. MicroStrategy, known for its large institutional Bitcoin holdings, has a share price directly linked to BTC’s performance.</p> 
<p>Bloomberg ETF analyst Eric Balchunas commented on this move, suggesting that “BlackRock, with its stake in MicroStrategy, has effectively created a 4x Bitcoin ETF.” While MicroStrategy’s volatility may be lower than a direct BTC ETF, BlackRock’s strategy aligns with its BTC-centric approach, reaching its highest share value in 24 years.</p> 
<h2 id="bitcoin-price-surge-continues">Bitcoin Price Surge Continues</h2> 
<p>Bitcoin has recently drawn investor attention with a 3.8% rise over the last 24 hours, reaching $70,958. BTC fluctuated between $68,153 and $71,540, maintaining strong upward momentum. With a market cap of $1.4 trillion, BTC has solidified its position in the crypto market, boasting a 24-hour trading volume of $52.3 billion. As the circulating supply nears the 21 million maximum limit, BTC’s long-term value prospects remain promising.</p> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-26216" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-24.jpeg" alt="chart 24" width="1644" height="1200" title="BlackRock’s Major Bitcoin Investment: Buys Surge as Prices Rise 52" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-24.jpeg 1644w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-24-768x561.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-24-1536x1121.jpeg 1536w" sizes="(max-width: 1644px) 100vw, 1644px"></p> 
<p>Bitcoin surged to $71,000 early in the day, experiencing a brief correction but holding its ground at higher levels. Institutional interest and demand are driving BTC’s value, with this price increase reflecting the market’s optimistic outlook. <a href="http://turkishnyradio.com" target="_blank" rel="noopener">Turkish NY Radio</a> will continue to monitor developments as institutional players like BlackRock intensify their involvement in the crypto sphere.</p>

BlackRock’s Major Bitcoin Investment: Buys Surge as Prices Rise

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