BlackRock Bought $1 Billion in Bitcoin in Just 48 Hours

BlackRock, the world’s largest asset manager, has made a big push into major cryptocurrencies. As per the data of Arkham Intelligence, the company has bought  $1 billion worth of Bitcoin within just 48 hours. 

In the last 24 hours, Bitcoin’s price ranged between a low of $103,187.94 and a high of $107,658.86, and it’s currently priced at $104,692.52. With the average price of Bitcoin being $103,187.94, BlackRock’s $1 billion purchase might have resulted in acquiring approximately 9,695 BTC.

In recent time,  the company released a short video educating people about Bitcoin and suggested investors could consider putting up to 2% of their portfolio into the cryptocurrency.

Additionally, BlackRock’s iShares Ethereum Trust now holds over 1 million ETH (Ethereum), valued at about $4.04 billion. This highlights BlackRock’s growing interest in digital assets.

Also Read: BlackRock’s Bitcoin ETF Now Holds 500,000 BTC, Worth $47.7B