BlackRock Builds $50,000,000,000 Bitcoin (BTC) Trove in Just 12 Months, According to Arkham
New data from market intelligence firm Arkham reveals that asset management titan BlackRock has built a $50 billion stash of Bitcoin (BTC) in 2024.
The data also finds that software firm MicroStrategy, founded by BTC maxi Michael Saylor, bought $24 billion worth of the crypto king last year while financial services giant Fidelity accumulated $20 billion worth of BTC.
Other notable digital assets in BlackRock’s portfolio include $3.6 billion worth of top altcoin Ethereum (ETH) and $68.5 million worth of the stablecoin USDC.
Source: Arkham/X
However, Arkham goes on to note that BlackRock – which has over $10 trillion in assets under its management – isn’t accumulating the top crypto asset by market cap anymore. Rather, it has reversed course and is unloading BTC in the short term.
Source: Arkham/X
Earlier this month, it was reported that BlackRock’s spot market BTC exchange-traded fund (ETF) saw a record number of outflows. At the time, it was found that the firm’s iShares Bitcoin Trust ETF (IBIT) witnessed $332.6 million worth of outflows on January 2nd, the largest day on record.
In November, it was found that IBIT had surpassed BlackRock’s gold ETF (IAU) in terms of net assets – reaching over $33 billion – despite the gold ETF launching nearly two decades earlier in 2005.
The flagship digital asset is trading for $94,201 at time of writing, a 1.1% decrease during the last 24 hours.
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The post BlackRock Builds $50,000,000,000 Bitcoin (BTC) Trove in Just 12 Months, According to Arkham appeared first on The Daily Hodl.