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Why Did BlackRock Offload $254M in Bitcoin on Coinbase? Key Insights
BlackRock, the world’s largest asset manager, has recently offloaded a whopping $254 million worth of Bitcoin to Coinbase. This sudden development has left many scratching their heads and questioning the ETF giant’s strategy.
The data reveals that BlackRock deposited 3,296 BTC (approximately $254 million) to Coinbase Prime. While some might view this as a sign of decreased confidence in the digital asset, others believe it could be part of routine portfolio rebalancing or even profit-taking.
It is essential to note that, despite these recent outflows from IBIT, Bitcoin remains strong and resilient above $82K, showcasing its remarkable strength amid a turbulent market environment.
Source: https://www.crypto-news-flash.com/why-did-blackrock-offload-254m-in-bitcoin-on-coinbase-key-insights/?utm_source=rss&utm_medium=rss&utm_campaign=why-did-blackrock-offload-254m-in-bitcoin-on-coinbase-key-insights
