- BlackRock boosts Bitcoin holdings to 572,637 BTC, solidifying dominance.
- Bitcoin holds at $87,500 as market volatility dampens prices.
- Institutional Bitcoin adoption gains pace as BlackRock boosts investments.
BlackRock has enlarged its Bitcoin stakes with a $145 million buy. This added purchase brings the overall holdings by BlackRock in Bitcoin to 572,637 BTC, putting its institutional domination into an even tighter grip.
BlackRock’s Ongoing Buildup of Bitcoins
The Martini Guy B brought the news yesterday, pointing towards BlackRock’s growing Bitcoin bet. BlackRock, with a $11.6 trillion fund under management, has been moving in small bites. It has recently purchased 1,980 BTC for $172.1 million, after purchasing 2,600 BTC for $218.1 million on March 18. Those purchases show just how serious BlackRock is to be as more institutional demand emerges.
Further, data from treasuries.bitbo.io reveals that as of March 19, BlackRock held 570,582 BTC, over 2.7% of the 21 million supply of Bitcoin. With this latest acquisition, the firm has solidified its status as a leading digital assets player.
Bitcoin Remains Firm at $87,500 Amid Market Volatility
Bitcoin met resistance at $87,500 before it dropped 4.4% to $83,600. The action is a sign of sustained volatility, fueled by aggressive investors who want to drive prices lower. Even during its 13-week high of $87,500 on March 20, Bitcoin was unable to maintain the level, which suggests lower levels.
BlackRock’s 2025 Global Outlook sees Bitcoin as an alternative store of value replacement for gold. CEO Larry Fink has characterized the rising use of Bitcoin as an alternative store of value, with growing demand from sovereign wealth funds potentially driving more rapid adoption.
Furthermore, Bitcoin exchange-traded funds (ETFs) continue to expand institutional investment. BlackRock’s iShares Bitcoin Trust (IBIT) currently manages $46.5 billion in assets, adding to the combined ETF assets of the industry, totaling around $100 billion. Of specific note, IBIT grew to $10 billion in assets faster than any other ETF.
With rising institutional investment in Bitcoin, the dynamics of the market change. BlackRock’s increasing visibility marks the growing dominance of financial institutions in the market for digital assets, influencing trends and broader adoption.
