Global asset management giant BlackRock has reportedly purchased $600 million worth of Bitcoin on January 22, marking its largest cryptocurrency acquisition this year. The recent BTC acquisition was identified by blockchain analytics platform Arkham Intelligence.
According to Arkham data, these purchases significantly expand BlackRock’s Bitcoin holdings, bringing its total to 569,343 BTC—valued at approximately $58.32 billion at current market rates.
Beyond Bitcoin, the firm holds other digital assets, including:
- $3.7 billion in Ethereum
- $74.5 million in USDC
- Tokens like Colle AI, SPX6900, UBXS, TUA, and MOG
BlackRock’s iShares Bitcoin Trust (IBIT) has been pivotal in driving institutional Bitcoin adoption. Since its January 2024 launch alongside 11 other ETFs, IBIT has grown 114%, outperforming peers.
👉 Why institutional investors are flocking to Bitcoin ETFs
Key Highlights from BlackRock’s Bitcoin Strategy
Spot ETF Inflows:
- Net inflows of 6,719 BTC ($700.94M) on January 22.
- IBIT alone contributed 6,208 BTC ($647.67M).
- Larry Fink’s Bullish Outlook:
The BlackRock CEO suggested institutional allocations of 2%–5% to Bitcoin could propel its price to $500K–$700K. Market Performance:
- Bitcoin traded at $104,555 at press time (down 2.2% in 24 hours but up 4% weekly).
FAQs About BlackRock’s Bitcoin Moves
Q: Why is BlackRock increasing Bitcoin holdings?
A: Institutions seek exposure to crypto as a hedge against inflation and for portfolio diversification.
Q: How does IBIT compare to other Bitcoin ETFs?
A: IBIT leads in AUM and institutional trust, with 114% growth since launch.
Q: What’s next for Bitcoin’s price?
A: Experts cite regulatory clarity and ETF inflows as key drivers for long-term gains.
Bottom Line: With BlackRock’s massive acquisitions and CEO Larry Fink’s endorsements, Bitcoin’s institutional legitimacy continues to soar.