Bitcoin

Million

when

BlackRock

<ul class="wp-block-list">
 <li>BlackRock added $742M in Bitcoin over two weeks, increasing its total holdings to 369,822 BTC, worth $22.4B.</li>  
 <li>Metaplanet purchased 108.99 BTC for ¥1B during the recent market dip, increasing its total holdings to 748.50 BTC.</li>  
 <li>A crypto whale panic-sold 800 BTC, taking a $26M loss following Bitcoin’s price drop below $60,000, contrasting with institutional buying.</li> 
</ul>  
<p>Despite Bitcoin's recent dip below $60,000 following the release of the U.S. Consumer Price Index (CPI) data, major institutional players like BlackRock and Metaplanet are continuing to buy Bitcoin aggressively.&nbsp;</p>  
<p>Notably, the sharp decline in price has caused uncertainty among retail investors, yet these larger players are viewing the current market volatility as an opportunity to accumulate for the long term.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/lookonchain/status/1844569368963006609
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<h2 class="wp-block-heading" id="h-blackrock-increases-bitcoin-holdings-by-742-million"><strong>BlackRock Increases Bitcoin Holdings by $742 Million</strong></h2>  
<p>Moreover, over the last two weeks, BlackRock, the world’s largest asset manager, has significantly <a href="https://cryptonewsland.com/blackrock-boosts-crypto-holdings-with-major-bitcoin-and-ethereum-buys/" target="_blank" rel="noopener noreferrer nofollow">ramped</a> up its Bitcoin purchases. The company added $742 million worth of Bitcoin to its holdings during this period, indicating its confidence in the asset’s long-term potential. BlackRock’s Bitcoin holdings have now reached 369,822 BTC, valued at approximately $22.4 billion.</p>  
<p>This notable acquisition comes after a brief slowdown in BlackRock’s buying activity between late August and late September, when Bitcoin traded below $60,000. Since then, BlackRock has resumed its purchases, showing that institutional players remain undeterred by short-term market fluctuations.&nbsp;</p>  
<p>Additionally, BlackRock has advised its clients to buy Bitcoin as a hedge against the declining purchasing power of the U.S. dollar.</p>  
<p>Similarly, Metaplanet, another major player, has also taken advantage of the recent market dip. The company has <a href="https://cryptonewsland.com/metaplanet-adds-%c2%a51-billion-in-bitcoin-as-part-of-aggressive-2024/" target="_blank" rel="noopener noreferrer nofollow">purchased</a> 108.99 BTC for ¥1 billion, further increasing its Bitcoin reserves. Over the past few days, Metaplanet has been steadily accumulating Bitcoin, and its total holdings now stand at 748.50 BTC, acquired at an average price of ¥9,304,655 per Bitcoin.</p>  
<p>Furthermore, this latest acquisition shows that Metaplanet, like BlackRock, sees the current market conditions as a buying opportunity. The firm continues to view Bitcoin as a strategic asset, especially in the face of inflation concerns and economic uncertainty.</p>  
<h2 class="wp-block-heading" id="h-market-volatility-sparks-differing-strategies-among-whales"><strong>Market Volatility Sparks Differing Strategies Among Whales</strong></h2>  
<p>However, while BlackRock and Metaplanet continue to buy, some crypto whales have taken the opposite approach amid recent market volatility. According to data from Lookonchain, one whale panic-sold 800 BTC ($48.5 million) following the price drop, adding to concerns about further market corrections.</p>  
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  https://twitter.com/lookonchain/status/1844427584874201118
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<p>In addition, the same whale had accumulated 11,659 BTC earlier this year at an average price of $62,362 but recently sold off a significant portion, resulting in a substantial loss of $26 million.</p>  
<p>Therefore, this divergence in strategies between institutional players and crypto whales highlights the uncertainty surrounding Bitcoin’s short-term price movement. Analysts suggest that the current market correction could potentially deepen, but the ongoing accumulation by major firms like BlackRock and Metaplanet indicates continued confidence in Bitcoin’s long-term value.</p> 
<p>The post <a href="https://cryptonewsland.com/blackrock-and-metaplanet-continue-aggressive-bitcoin-accumulation-amid-market-dip/" rel="noopener noreferrer nofollow">BlackRock and Metaplanet Continue Aggressive Bitcoin Accumulation Amid Market Dip</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

BlackRock and Metaplanet Continue Aggressive Bitcoin Accumulation Amid Market Dip

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