Fidelity Investments Buys the Dip, Stashing $100M of Bitcoin (BTC)

input: Fidelity Investments, a top financial investment firm, is in the news following its recent significant Bitcoin (BTC) buy.

Financial investment firm Fidelity Investments has been making headlines for its recent and significant Bitcoin (BTC) buy.

This decision showcases the firm’s continued confidence in the world’s leading digital asset. It also comes amid a recovery in the spot Bitcoin Exchange-Traded Fund (ETF) market after weeks of persistent outflows.

Fidelity Bitcoin ETF Accumulation

Arkham Intelligence, a renowned blockchain analytics platform, confirmed on X that Fidelity recently purchased BTC for a total of $100 Million.

The platform further illuminated this activity with a chart displaying two Bitcoin transfers from two distinct wallet addresses, both credited to Fidelity.

The first transaction involved 529 BTC, valued at approximately $49.27 Million, being transferred to FBTC at 07:57:00 on March 1.

The second purchase saw 524 BTC, worth about $47.8 Million, being transferred to the ETF at 12:34:00 on the same day.

At the current market price, both purchases amount to $100 Million.

This acquisition brings the total Bitcoin holdings in Fidelity Exchange-Traded Fund (FBTC) to over 199,000 BTC. At the current market price, this investment translates to over $18 Billion.

With Bitcoin’s price trading around $88,602, Fidelity now controls nearly 1% of the total Bitcoin in circulation.

This staggering statistic truly solidifies the firm’s position as a major institutional player in the crypto market.

Fidelity’s purchase follows a broader trend among institutional investors, increasing their Bitcoin exposure.

For instance, Michael Saylor’s Strategy, formerly MicroStrategy, has continued in its effort to stack BTC.

The firm currently owns 471,107 BTC, which translates to roughly $45.7 Million, with the average Bitcoin cost basis recently hitting $64,500.

Tokyo-based Metaplanet has also continued to reinforce its Bitcoin reserves. The company recently acquired 619.7 BTC, bringing its total holdings to 1,762 BTC worth $168 million.

Bitcoin ETF Market 7-Day Outlook

Fidelity’s aggressive BTC accumulation highlights continued confidence in the asset following the latest recovery in the Bitcoin ETF market.

On February 28, the ETF saw inflows reaching $176 Million, becoming the second-top performer for the day, following ARKB’s $193.7 Million.

According to Farside Investors data, on this day, the total spot Bitcoin ETFs saw inflows of $94.3 Million.

Before this inflow, the market experienced a seven-day streak of outflows, beginning on February 18 and ending on February 27. On February 18, the Bitcoin ETF recorded outflows of $60.7 Million.

However, the market experienced the highest outflows within the seven-streak on February 25, which amounted to $1.1 Billion.

Bitcoin Volatility and Projections

The massive outflows from the Bitcoin ETFs come as Bitcoin’s price plummeted substantially over the past weeks. Specifically, Bitcoin plunged over 20% from its peak last week, even hitting a low of $78,979 on February 28.

Bitcoin recovered some losses on March 2 after President Donald Trump’s comments. The President reiterated a commitment to establishing a federal reserve holding for top cryptocurrencies, including BTC.

As of press time, BTC price was still fluctuating as investors digest macroeconomic factors and regulatory concerns. BTC is currently trading at $90,082, down over 4% from the previous day and 7.42% over the past week.

Despite the recent volatility, several analysts have raised optimistic forecasts for the coin’s future. JAN3’s CEO Samson has increased its $1 Million target for BTC to $2 Million, putting strong emphasis on his belief in the asset. Amid the market turbulence, JAN3 bought 12 BTC, gaining 15% monthly profit.