BlackRock Makes Biggest Bitcoin Purchase in 7 Months, Now Holds $29.84B Worth of BTC

BlackRock, world's leading investment provider which has one of the biggest Bitcoin holding has yet again made it to the headlines.

World’s leading investment provider, BlackRock, has once again made headlines with its massive Bitcoin holdings. Since the beginning, the company’s CEO Larry Fink has been a crypto enthusiast, and his contribution to the industry has helped BlackRock become one of the top 10 companies with the highest Bitcoin holdings.

BlackRock’s Biggest Purchase in the Last 7 Months

In recent events, BlackRock made a significant move by purchasing 8,805 $BTC on October 29,2024, valued at $630 million. This purchase marks the largest single-day purchase in the last 7 months, bringing their total Bitcoin holdings to 417,058 $BTC, valued at $29.84B.

1/ FDUSD expands to Solana 🔥

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With technological innovation in the industry, long-term value proposition and other factors, BlackRock’s interest in Bitcoin has been increasing day by day.

The company’s aggressive buying indicates its commitment towards Bitcoin, especially as an institutional interest continues to be on the rise for cryptocurrency. With many intuitional investors following the footsteps of the company, the demand for investing in Bitcoin after the move might increase.

At press time, the price for Bitcoin is $72,238.56 with a surge of 0.6% in the past 24 hours.

Analysts predict that with increasing price of Bitcoin, such moves would also fuel Bitcoin’s demand and lead to a surge in the price of the Bitcoin.

Also Read: Former Facebook Exec Highlights Kamala Harris’s Changing Crypto Stance