Ethereum

Cryptocurrency

Bitcoin

BlackRock

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrock-expands-its-cryptocurrency-holdings-significantly/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock Expands Its Cryptocurrency Holdings Significantly</a><br></p>
<p style="text-align: justify">BlackRock, a significant player in the <a href="https://en.coin-turk.com/when-do-cryptocurrencies-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/investors-increase-inflows-into-crypto-assets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market, has made substantial investments in Bitcoin and Ethereum in recent weeks. New data released by the blockchain analysis firm Arkham indicates that BlackRock is accelerating its accumulation of digital assets. These assets are, of course, being collected on behalf of clients for the company’s ETF products.</p>
<h2 style="text-align: justify" id="blackrock-s-bitcoin-purchases">BlackRock’s Bitcoin Purchases</h2>
<p style="text-align: justify">According to Arkham, BlackRock purchased $2.6 billion worth of Bitcoin this week. This translates to over half a billion dollars in purchases daily. With a portfolio of $10 trillion in assets under management, BlackRock holds a powerful position in the cryptocurrency market.</p>
<p style="text-align: justify">Not limiting itself to Bitcoin, BlackRock has also made significant investments in Ethereum. Arkham’s data reveals that BlackRock acquired $500 million worth of Ethereum last week, increasing its Ether holdings by 50% over the past 30 days. Ethereum is currently trading at approximately $3,935.</p>
<h2 style="text-align: justify" id="elon-musk-s-companies-bitcoin-portfolio">Elon Musk’s Companies’ Bitcoin Portfolio</h2>
<p style="text-align: justify">Arkham has also outlined the Bitcoin portfolios held by Elon Musk’s companies, SpaceX and Tesla. The Bitcoin holdings of these companies have nearly tripled based on average cost bases. Tesla possesses 11,509 BTC valued at $1.17 billion, while SpaceX holds 8,285 BTC worth $842 million.</p>
<p style="text-align: justify">These Bitcoins were acquired at an average cost of $34,980, resulting in total gains of $1.3 billion (186%). The investments by BlackRock and Musk’s companies could significantly impact the digital asset market.</p>
<p style="text-align: justify">BlackRock’s substantial investments in <a href="https://en.coin-turk.com/bitcoin-and-altcoins-show-mixed-performance-3/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> assets are increasing institutional investors’ interest and confidence in the cryptocurrency market. The demand for leading cryptocurrencies like Ethereum and Bitcoin continues to shape market dynamics.</p>
<p style="text-align: justify">In conclusion, BlackRock’s large-scale Bitcoin and Ethereum purchases through its ETF channel signal positive trends for the future of cryptocurrencies. The shift towards crypto assets by institutional investors may further contribute to the evolution of cryptocurrency markets.</p>
<p>The post <a href="https://en.coin-turk.com/blackrock-expands-its-cryptocurrency-holdings-significantly/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock Expands Its Cryptocurrency Holdings Significantly</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

BlackRock Expands Its Cryptocurrency Holdings Significantly

Table of Contents

COINTURK NEWS

Other articles published on Dec 9, 2024

BTFD Coin Hits $2.6M in Presale as Brett and COQ Inu Spark Investor Interest Among the Best Meme ...

Top Ripple (XRP) Price Predictions

Ripple CEO Criticizes “60 Minutes” Over Omissions in XRP and U.S. SEC Case Coverage

Weekly Article Recap: 11/25-11/29

Bitcoin Price Drops Below $98,000 as Market Faces Volatility

Top Underrated Cryptos Poised for 100x Explosive Growth by 2026

Join our free newsletter for daily crypto updates!