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Blacrock has been accumulating Bitcoin at a high rate, signaling heightened institutional demand and adoption.
BlackRock, the world’s largest asset manager, with around $11.58 trillion in assets under management, has caught the market’s attention following its bold Bitcoin strategy. The institution’s rate of BTC acquisition has raised eyebrows as investors anticipate a bullish rally and potential market supply shock driven by demand.
According to on-chain data, Blacrock has acquired BTC worth $2.5 billion in just one week. In the past 7 days, there have been multiple transactions from Coinbase Prime to the IBIT ETF wallet, suggesting aggressive accumulation.
What does this mean for BTC?
As traditional investors seek exposure to Bitcoin through ETFs, institutional acquisition of BTC is projected to rise in the following months. With Bitcoin exchange supply draining steadily, the market could see a supply shock triggering a BTC rally towards the $100k mark and beyond.
Additionally, this suggests growing mainstream crypto adoption. Bitcoin is joining traditional balance sheets while positioning itself as a hedge against inflation and economic uncertainity.
