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BlackRock Now Owns 700,000 Bitcoin, Here’s When 1,000,000 BTC May Come True
In a stunning development, it has been revealed that BlackRock now owns an astonishing 700,000 Bitcoin. This monumental milestone marks a significant shift in the cryptocurrency market as one exchange-traded fund (ETF) surpasses previously unimaginable holdings.
According to reports, iShares Bitcoin Trust (IBIT), BlackRock’s ETF, has crossed the threshold of 700,000 BTC in just 18 months. Notably, this enormous growth comes at an incredible pace of over $75 billion at current prices and nearly 3.5% of all mined Bitcoin. The sheer magnitude of this accumulation raises concerns regarding the potential impact on liquidity, volatility, and governance within the cryptocurrency ecosystem.
As we examine the present trends, it appears that IBIT has averaged a substantial 39,000 BTC per month in net accumulation since its January 2024 approval. This remarkable growth rate may potentially see the ETF surpass one million Bitcoin by early 2026, amounting to nearly 5% of all mined Bitcoin.
The current data suggests that institutions are willing to invest heavily in cryptocurrency markets, which sparks concern about potential market fluctuations and regulatory implications. In light of these developments, it remains crucial for investors to conduct thorough research before making any investment decisions.
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Source: u.today
