BlackRock, the massive investment firm, has been on a Bitcoin buying spree, according to blockchain analytics firm Arkham Intelligence.
BlackRock’s Bitcoin Purchases
Arkham reported that BlackRock purchased a staggering $2.6 billion worth of Bitcoin in just one week—that’s over half a billion dollars every day! This comes as Bitcoin is trading around $99,137, slightly down from the previous day.
Ethereum Acquisitions Too
BlackRock wasn’t just focused on Bitcoin. They also scooped up $500 million in Ethereum last week, boosting their Ether holdings by 50% over the past month. Ethereum is currently trading at approximately $3,935.
Musk’s Crypto Holdings Soar
Arkham also revealed updated Bitcoin holdings for Elon Musk’s companies, SpaceX and Tesla. Their combined Bitcoin stash is now worth roughly $2 billion, a significant increase from their original purchase price. This represents a profit of around $1.3 billion, or a 186% increase. Specifically:
- Tesla: Holds 11,509 BTC (worth about $1.17 billion)
- SpaceX: Holds 8,285 BTC (worth about $842 million)
These holdings were acquired at an average price of $34,980 per Bitcoin.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies./p>
