Guess who’s back buying more bitcoin? It’s BlackRock taking a bolder approach to the world’s best digital asset.
According to Arkham Intelligence’s latest tracking, Black coat reportedly bought $600 million Bitcoin January 22, the most important purchase of the year. Arkham added that this latest acquisition pushed the company’s holdings to 569,343 Bitcoins, currently valued at $58.32 billion.
In addition to Bitcoin, BlackRock has other digital assets, including 74.5 million USDC tokens, $3.7 billion in Ether, and coins such as UBXS, Colle AI, MOG, TUA, and SPX6900.
Source: Arkham Intelligence
BlackRock leads Bitcoin buying over the past seven days
This year, BlackRock’s aggressive acquisition of Bitcoin got off to a fiery start. Lookonchain revealed on Twitter/X that among all funds, BlackRock’s iShares receives the most bitcoin inflows.
GrayScale Bitcoin Mini Trust comes in next, with a total of 208 Bitcoins, then followed by GrayScale Bitcoin Trust, which acquired 165 Bitcoins on the same day.
Jan 22 update:
10 #Bitcoin ETFS
NetFlow: +6,719 $BTC(+$700.94 million) 🟢#BlackRock(iShares) inflow 6,208 $BTC($647.67M) and currently has 569,343 $BTC($59.4B).9 #Etheum ETFS
NetFlow: +18,108 $(+$59.59m) 🟢#BlackRock(iShares) inflow 16,959 $($55.81 million) and currently holds… pic.twitter.com/i2ean9iabf– LookOnchain (@lookonchain) January 22, 2025
When looking at the seven-day net inflow, BlackRock remains the best player in the industry. During this period, BlackRock’s iShares Fund acquired 15,351 Bitcoin, double the amount sent by the Fidelity Wise Origin Bitcoin Trust. AKR21 stock was also a top performer over the past seven days, adding nearly 4,000 bitcoins to its holdings.
BlackRock is adding a significant number of ETH to grow its holdings
BlackRock’s holdings also include other digital assets, including ETH. In the same data shared by Lookonchain, BlackRock added about 58 ETH but is behind the acquisition of Vaneck, with its 732 ETH tokens purchased in the last seven days.
Although BlackRock adds a significant number of ETH tokens, its investments in Bitcoin Matter to the industry. The company’s Bitcoin purchases are often a measure of market performance. Since SPOT Bitcoin ETFS in January 2024, BlackRock has consistently led the segment with aggressive purchases.
BlackRock CEO Larry Fink on Bitcoin:
“If everyone assumed a 2% or 5% allocation, you could see Bitcoin at $700,000”
Amazing how far Bitcoin has come. 🟠pic.twitter.com/pSXP3AQ4WI
– Geiger Capital (@geiger_capital) January 22, 2025
Fink remains bullish on BTC, targets $700k
Bitcoin is currently trading at $104,000, slightly lower than its closing price yesterday. Still, analysts are optimistic about Bitcoin’s price trajectory based on its recent success. Larry Fink, CEO of BlackRock, has shown confidence in the potential price of Bitcoin.
Fink told the World Economic Forum that Bitcoin was becoming more and more popular among asset management companies and international investment funds. According to Fink, these companies want BlackRock’s opinion on Bitcoin. If everyone owns Bitcoin and contributes 2% to 5%, the industry will reach $700,000, Fink continued.
Additionally, Fink emphasized that they are not endorsing Bitcoin, but rather highlighting its potential. Bitcoin could see some improvement under Trump, according to Samara Cohen, another Blackrock official. According to Cohen, Bitcoin is doing well in the market under Trump. Once the rules are clear, Cohen predicts a banner year for Bitcoin.
Image from Reuters, chart from TradingView
