BlackRock Is Now The Third Largest Bitcoin Holder With 350,000 BTC!

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Aug 21, 2024 11:24

BlackRock has rapidly expanded its Bitcoin holdings, which now owns close to 350,000 BTC. This makes it the third-largest holder globally, only behind Satoshi Nakamoto and Binance. The massive milestone comes as BlackRock strengthens its position in the cryptocurrency market, driven by the success of its Bitcoin ETFs and increased institutional interest. The iShares Bitcoin Trust, launched by BlackRock earlier this year, has been a key factor in the firm’s growing Bitcoin reserves. The CEO, Larry Fink, who once openly criticized Bitcoin as a speculative asset, now regards Bitcoin as an important international asset with transformative potential.