Although the leading cryptocurrency Bitcoin (BTC) briefly fell to $ 58,900 after the CPI data from the US yesterday, it later recovered and rose above $ 60,000 again.
While declines are always seen as buying opportunities for large investors, market giants BlackRock and Metaplanet accelerated their Bitcoin purchases.
According to Lookonchain's post, BlackRock has increased its Bitcoin holdings by purchasing $742 million in the last two weeks.
BlackRock, the world's largest asset manager, purchased a total of 12,272 Bitcoins in the last 16 days.
The ongoing purchases show that asset managers have growing confidence in the long-term value of BTC.
“BlackRock purchased 12,272 BTC worth $742 million in the last 16 days.
Between August 27 and September 24, BTC traded below $60,000 for a long time, while BlackRock made very little accumulation.
However, since September 24, they have continued to buy, adding another 12,272 BTC to their BTC holdings. BlackRock currently holds 369,822 BTC worth $22.4 billion.”
Japanese Giant Continues to Purchase Bitcoin!
Alongside BlackRock, Metaplanet, a giant company seen as Asia’s MicroStrategy, is also buying Bitcoin dips.
At this point, Metaplanet also made another significant BTC purchase by purchasing approximately 108.99 BTC for 1 billion yen.
The latest purchase comes four days after Metaplanet purchased Bitcoin earlier this week.
As of today, October 11, Metaplanet holds a total of 748.50 BTC worth a total of 6.965 billion yen.
BlackRock bought 12,272 $BTC ($742M) over the past 16 days.
Between Aug 27 and Sept 24, when $BTC traded below $60K for an extended period, #BlackRock made few accumulations.
Since Sept 24, they've resumed buying, adding 12,272 $BTC to their holdings, and currently hold… pic.twitter.com/fnhrI4Ijp8
— Lookonchain (@lookonchain) October 11, 2024
*This is not investment advice.
