BlackRock Reaches New Milestone in Bitcoin (BTC) Holdings, Now Owns Over 400,000 BTC

BlackRock has reached a new milestone in its Bitcoin holdings, with a total of over 400,000 BTC. Right now, the hedge fund's holdings are valued at around

BlackRock’s Bitcoin Stash Now Surpasses 400,000 BTC Bitcoin (BTC) is seeing a large accumulation by hedge fund BlackRock, with recent data showing that the firm now holds over 400,000 BTC. At current prices, these holdings are valued at around $26.98 billion, out of a total 403,725 BTC.

Over the past two weeks, the asset management giant has been adding to its Bitcoin stash at a rapid pace, amassing another 34,085 BTC, which is estimated to be worth about $2.3 billion, according to data from Lookonchain.

🔎 BlackRock悄悄增持34,085枚比特币，价值23亿美元

Institutions are continuing to show a strong preference for Bitcoin ETFs, and this is enabling BlackRock to expand its presence in the cryptocurrency market, emerging as a dominant force.

This accumulation also comes as a response to the growing demand from institutions for exposure to BTC, which is largely limited by over-the-counter (OTC) markets and Genesis troubles. Bitcoin ETFs are emerging as a key avenue for institutions to own BTC.

As the company increases its holdings in a manner that has never been seen before, some are speculating on the potential implications for the future of Bitcoin itself.

Is BlackRock preparing to fork Bitcoin?

Many are already projecting a sort of Bitcoin wars in the future, making dystopian predictions that BlackRock will eventually push for the fork of the original BTC chain and then promote its own forked chain as the real one, using all its massive resources to do so. It does not sound like something impossible, but in the current realm it seems more like a conspiracy theory.

Such a rapid accumulation of Bitcoin has people wondering where BlackRock will draw the line in its pursuit of dominance in the cryptocurrency market. On the other hand, the financial behemoth faces challenges to its influence from other significant stakeholders in the Bitcoin space, including figures like Michael Saylor with MicroStrategy’s Bitcoin holdings, mining entities, early adopters and millions of individual investors who form a large and decentralized market presence. Whether they will be able to present a solid opposition to BlackRock is another question however.