Cardano

Grail

DeFi

Bitcoin

BlackRock

Asset management giant BlackRock has announced that it has gathered more than 400,000 Bitcoins (<a href="https://yellow.com/asset/btc">BTC</a>). This $26.98 billion <a href="https://coinmarketcap.com/community/articles/671f3795a88ef474a020295f/">accumulation disclosure</a> comes at a time when traders are buying Bitcoin ahead of Donald Trump's anticipated US election win. 
This is a critical milestone for institutional crypto adoption as it solidified institutional integration in the crypto market. BlackRock followed an aggressive buying strategy as it purchased 34,085 BTC. This amounted to $2.3 billion worth of crypto investments in 2 Weeks, showcasing the digital assets appetite of institutional investors. 
"The sheer scale of BlackRock's position raises important questions about market influence and decentralization," said Dr. Marcus Wei, Director of Blockchain Studies at MIT Digital Currency Initiative. While this is happening, Cardano is quietly moving to boost the BTC ecosystem with innovative solutions like the relaunching of the Bitcoin Education Project next year. 
Speaking about the matter, Cardano founder Charles Hoskinson said: "Through Aiken and the Grail Bridge, we're creating a seamless interface between Bitcoin and Cardano's advanced DeFi capabilities”. 
Crypto analysts like Mati Greenspan from Quantum Economics predict that Bitcoin could touch the $100,000 mark this year. "The 'Bitcoin first' narrative has gained substantial momentum since the Taproot upgrade," Greenspan stated, highlighting the network's expanding DeFi capabilities. 
Meanwhile, Bitcoin historian Pete Rizzo validated that the cryptocurrency is following a remarkable growth trajectory as a dormant wallet since 2012 having 400 BTC made $27 million from its initial value of $2,149. 
The Cardano-Bitcoin integration through the BitcoinOS Grail Bridge also boosted the price surge as it made Cardano the first layer 1 blockchain to connect with BOS. This could potentially change the DeFi landscape as BTC will find more utility. 
As of October 28, Bitcoin was trading at $67,680 quite stable amidst the market volatility before the US elections. This growth could be further sustained by the BlackRock accumulation and Cardano technological integration as it matures the BTC ecosystem. 
"The convergence of traditional finance, represented by BlackRock, and technological innovation from platforms like Cardano, is creating a more robust and diverse crypto ecosystem," observes Jennifer Walsh, Senior Crypto Analyst at Digital Asset Research. "This synergy could be the catalyst for the next phase of institutional adoption." 
At present, (October 29 day end), <a href="https://coinmarketcap.com/currencies/bitcoin/">Bitcoin is trading</a> at $72,777.66 up by 5.59% in the last 24 hours while its trading volume has surged more than 80% to reach $55.67 billion. BTC market capitalization grew 5.47% in the past 24 hours to touch $1.44 trillion.

BlackRock Gathers 400k Bitcoin, Raising the Token’s Holding to $27 Billion

Yellow News

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