BlackRock Continues To Buy Bitcoin: Holdings Now Reach 358,000 BTC Worth $22 Billion
BlackRock has become the world's largest Bitcoin fund, holding approximately 358,000 BTC valued at around $22.76 billion, which is about 1.70% of Bitcoin's total supply. This surpasses Grayscale's holdings of approximately 258,671 BTC valued at $16.45 billion by nearly 100,000 BTC. Despite market volatility, BlackRock has continued to increase its Bitcoin investments through its ETF, IBIT. In contrast, Grayscale leads in Ethereum holdings with 2.104 million ETH valued at roughly $5.45 billion, while BlackRock holds 349,970 ETH valued at about $910 million. BlackRock's head of digital assets, Robbie Mitchnick, argues that Bitcoin should not be viewed solely as a "risk-on" asset and emphasizes its decentralized nature, scarcity, and appeal as a non-sovereign asset. Bitcoin's current trading price is $63,220, down 0.3% over the last 24 hours.
