Key Points
- Major institutions BlackRock and MARA Holdings have purchased nearly 10,000 Bitcoin amidst a recent price dip.
- BlackRock and MARA’s Bitcoin reserves now total $48.9 billion and $2.17 billion respectively.
Despite a recent decline in the price of Bitcoin, the cryptocurrency continues to attract significant interest from major institutions, including BlackRock and MARA Holdings.
Reports indicate that between December 5 and 6, these firms, along with an unidentified whale, collectively acquired almost 10,000 Bitcoin, capitalizing on the drop in price to $92,957.
Bitcoin Accumulation by BlackRock and MARA
BlackRock, the world’s largest asset manager, made a significant Bitcoin purchase, acquiring 7,750 Bitcoin.
As a result, BlackRock’s total Bitcoin holdings are now valued at $48.9 billion, according to data from Arkham Intelligence.
This acquisition coincides with increased demand for shares in BlackRock’s spot Bitcoin exchange-traded fund (ETF), suggesting that cryptocurrency has gained mainstream acceptance.
Thomas Fahrer, founder of crypto markets firm Apollo, has described BlackRock’s Bitcoin ETF as the “fastest-growing ETF ever.”
MARA Holdings purchased 1,423 Bitcoin over four separate transactions between December 5 and 6.
The Bitcoin mining firm spent $139.5 million following the closure of its $850 million convertible note offering, with the proceeds earmarked for Bitcoin accumulation.
MARA’s Bitcoin reserves now stand at 22,108 Bitcoin, valued at approximately $2.17 billion.
Additional Market Activity
In addition to BlackRock and MARA, an unidentified whale took advantage of the Bitcoin price dip to acquire an additional 600 Bitcoin, an investment of roughly $58.9 million.
Blockchain data reveals that this account only recently began accumulating Bitcoin, with the first transaction occurring on November 24.
Other firms, such as healthcare tech firm Semler Scientific, have also adopted Bitcoin as a treasury strategy, increasing their Bitcoin holdings to 1,873 after purchasing 303 Bitcoin on December 4.
Institutional and corporate players collectively hold 527,026 Bitcoin, which represents 2.66% of Bitcoin’s total supply.
At the time of writing, Bitcoin was trading at $97,821, down 4.83% over the past 24 hours.
