BlackRock Boosts Bitcoin Holdings to $58 Billion

Blockchain analytics firm Arkham has revealed that BlackRock, the world’s largest asset manager with over $10 trillion in assets under management, recently expanded its Bitcoin holdings by an additional $1 billion.

This acquisition brings BlackRock’s total Bitcoin stash to 572,616 BTC, valued at approximately $58.43 billion, representing 2.7% of the total Bitcoin supply.

BlackRock’s crypto portfolio also includes $3.75 billion in Ethereum (ETH) and $72.02 million in USDC stablecoins, highlighting its growing interest in the digital asset space. The news comes as BlackRock CEO Larry Fink made a bold prediction during the World Economic Forum in Davos, Switzerland, suggesting that Bitcoin could reach prices as high as $700,000 per coin.

Fink attributed this potential growth to sovereign wealth funds increasingly viewing Bitcoin as a hedge against inflation, economic instability, and political uncertainties. He shared insights from recent discussions with a sovereign wealth fund, where the focus was on allocating 2% to 5% of their portfolios to Bitcoin. If such allocations became the norm, Fink argued, Bitcoin could easily surpass half a million dollars per coin and potentially reach $700,000.

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Fink emphasized Bitcoin’s appeal as an international asset capable of addressing concerns tied to local currency debasement or geopolitical risks, positioning it as a viable hedge alongside traditional securities and equities. BlackRock’s latest investment underscores its confidence in Bitcoin’s long-term potential as an integral part of institutional portfolios.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.