BlackRock’s iShares Bitcoin Trust (IBIT) holdings It grew By 3,570 bitcoins (BTC), worth $682.43 million, on January 21, according to data from BitcoinTreasuries. The fund now owns a total of 563,134 BTC.
Based on the current market price, IBIT BTC holdings With a value of $59.4 billion. Over the past three days, BlackRock’s IBIT inflows have been the highest among other spot Bitcoin ETFs.
BlackRock’s confidence in Bitcoin
Data from on-chain analytics platform SoSoValue Show IBIT recorded inflows of $661.9 million on the same day it acquired more Bitcoin. BlackRock has become more confident about its investment in Bitcoin after the cryptocurrency reached $108,014 on January 20.
The value of iShares BTC holdings increased from January 16 to January 17, peaking at $1.3 trillion. Last month, BlackRock bought $1 billion worth of Bitcoin before the coin’s price fell sharply.
However, the price of BTC has been gradually declining since it reached this high level. It is currently priced at $105,326, up 0.8% over the past day. The price of this cryptocurrency has increased by 9% in the past week.
Industry participants expect progress in the cryptocurrency sector following the inauguration of President Donald Trump. It remains to be seen whether BTC’s rise will continue or not. One such development is the creation of a national bitcoin reserve which Trump has promised to create to make the United States the “cryptocurrency capital” of the world.
However, CryptoQuant CEO, Ki Young Ju, did just that to caution Investors expect that the price of BTC will fall or trade sideways for several months. He explained that the indicators are still bullish, but he is not sure whether the upward cycle has ended. Hence, he cautions those who trade with leverage to be careful.
The best corporate Bitcoin holders
Meanwhile, the company with the highest BTC cap remains MicroStrategy, which purchased 11,000 BTC for $1.1 billion. January 21. The company now has a total of 461,000.
According to CoinGecko data, its holdings put it ahead of the curve Digital Marathon And riot control pads, which occupation The second and third places are among corporate BTC holders. Tesla and Coinbase completed the top five for corporate BTC holders.