In two months, the asset management giant has accumulated 203,000 bitcoins, closing in on MicroStrategy’s 205,000 bitcoins.

As bitcoin continues its crazy race above $73,000, there is some commotion among large bitcoin holders. Asset management giant Blackrock has clearly become a crypto “whale”. As a reminder, a crypto whale is a specific term referring to investors holding a significant amount of crypto (for example more than 1,000 bitcoins or more than 10,000 ether), whose movements can have an impact on the cryptocurrency market.

On January 10, the American stock market watchdog (the SEC) authorized the marketing of 10 spot bitcoin ETFs on the American market, including the Blackrock product, called iShares Bitcoin Trust (IBIT). Since then, his fund has been breaking records: the past week was historic with a net capital inflow of $2 billion, including no less than $473 million last Thursday alone.

203.000 bitcoins

Blackrock is now at the head of a war chest of 203,000 bitcoins, just behind the company that holds the most bitcoins: MicroStrategy and its 205,000 bitcoins, according to data from the specialized site BitcoinTreasuries.

In less than two months of existence, his fund has accumulated as many bitcoins as the largest crypto whale. The firepower of Blackrock, combined with the extraordinary demand for these products which allow exposure to bitcoin without owning it, seems to be the product of the moment in the United States, especially that of Blackrock which represents the best price balance -return-management fees according to analysts.

This incredible bitcoin gold rush should logically benefit a financial supergiant and Blackrock seems to be best equipped for a long time, as the frenzy never ends.

Antoine Larigaudrie with Pauline Armandet


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