Bitcoin

Reserve

BlackRock

<p>The global financial landscape continues to transform at a dizzying pace. And Bitcoin, once seen as a risky bet, has gradually established itself as a preferred asset for major institutional investors. Among them, BlackRock, the world’s largest asset manager, marks a new milestone in the adoption of Bitcoin. With new strategic acquisitions, this company has seen its Bitcoin holdings reach nearly $24 billion, thus confirming its key role in the evolution of the crypto ecosystem.</p> 
<h2 id="h-blackrock-a-major-player-in-bitcoin-accumulation">BlackRock, a major player in Bitcoin accumulation</h2> 
<p>BlackRock, with its iShares Bitcoin Trust (IBIT), has made headlines with its significant increase in <a href="https://www.cointribune.com/quest-ce-que-le-bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> holdings. The asset manager added $35 million worth of Bitcoin to its portfolio yesterday, Thursday, September 26, 2024, bringing its total reserves to 362,192 BTC, worth nearly $24 billion. These <a href="https://decrypt.co/283436/blackrock-bitcoin-holdings-24-billion" target="_blank" rel="noreferrer noopener">figures represent about 1.70 % of the Bitcoin</a> currently in circulation, a strong indicator of BlackRock’s confidence in the growth potential of this cryptocurrency.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>BlackRock is not alone in this approach. Along with Grayscale, another major player in the sector, these two companies alone hold nearly 3 % of the total Bitcoin supply available on the market.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noreferrer noopener">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<h2 id="the-implications-for-the-crypto-market">The implications for the crypto market</h2> 
<p>Beyond mere numbers, BlackRock’s new acquisitions signal a deep-seated dynamic that could well redefine the crypto market in the coming months. On September 25, 2024, BlackRock’s iShares Bitcoin Trust recorded an unprecedented inflow of $184.4 million in a single day, illustrating the appetite of institutional investors for such financial products. This surge occurred shortly after the decision taken on Wednesday, September 18, 2024, by the U.S. Federal Reserve to lower interest rates, which potentially increased the appeal of cryptos like Bitcoin.</p> 
<p>However, this massive increase in BlackRock’s holdings is accompanied by controversies. Rumors have circulated about the role of Coinbase, BlackRock’s fund custodian, suggesting that the platform might not physically hold all the Bitcoin purchased but instead issue “paper Bitcoins” or IOUs (I Owe You). Brian ARMSTRONG, CEO of Coinbase, quickly addressed the situation: “all ETF transactions are settled on the blockchain, and institutional funds are fully backed by real Bitcoins.”</p>  
<p>The rise of BlackRock in the crypto world is a strong signal of institutional adoption of Bitcoin. In just one year, the asset manager has consolidated its position as a leader in crypto-backed financial products, with record investment flows. This trend, supported by <a href="https://www.cointribune.com/en/the-fed-finally-lowers-its-rates-what-will-happen-to-bitcoin/" target="_blank" rel="noreferrer noopener">the latest interest rate cut</a> and clarification of asset custodial mechanisms, could lead to a new wave of crypto adoption by other major financial institutions.</p>

BlackRock hits hard : 24 billion dollars in Bitcoin !

Table of Contents

Cointribune EN

Autres articles publiés le 27 sept. 2024

Cryptocurrency Analysts Provide Insights on RENDER, NOT Coin, SHIB, FET, and BTC

Ripple Vs SEC Lawsuit: Former US SEC Lawyer Predicts XRP Case Appeal

Coinpedia Fintech News

Binance Founder CZ Will Be Released From Prison 2 Days Early

UK Gambling Commission Charges Sorare with Operating Unlicensed Gambling Services

Binance Shakes Up the Altcoin Market with New Listing: Worldcoin (WLD)

Join our free newsletter for daily crypto updates!