BlackRock, MARA Accumulate Nearly 10,000 BTC as Bitcoin Price Dips Below $100K

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As a seasoned researcher with a knack for deciphering market trends, I find myself increasingly intrigued by the recent moves of institutional giants like BlackRock and MARA Holdings in the Bitcoin market. With over two decades of experience in financial markets, I can confidently say that these players are not making random moves; they are strategically positioning themselves to capitalize on opportunities.

Despite a recent drop in value, Bitcoin has remained a focal point for significant institutional investors such as BlackRock and MARA Holdings. Over the span of December 5-6, these institutions, along with an unidentified large investor (referred to as a ‘whale’), collectively purchased almost 10,000 Bitcoins at a price of $92,957, leveraging the market downturn for investment opportunities.

BlackRock and MARA Lead the Bitcoin Accumulation Frenzy

The biggest investment firm globally, BlackRock, recently bought a significant amount of Bitcoin – specifically 7,750 units. As a result, the value of their Bitcoin holdings is currently estimated to be approximately $48.9 billion according to Arkham Intelligence’s data, given today’s market prices.

It’s worth noting that BlackRock’s recent acquisition coincides with a rise in the popularity of its Bitcoin-focused ETF. The growing appeal for these regulated ETFs suggests that cryptocurrency could be here to stay, as it has now earned widespread acknowledgement and acceptance within mainstream markets.

As per Thomas Fahrer, the creator of cryptocurrency markets company Apollo, it’s clear that BlackRock’s Bitcoin ETF has been growing at an unprecedented pace and holds the title of the “swiftly expanding ETF in record time.

Instead of that, let me rephrase it for you: MARA Holdings managed to obtain 1,423 Bitcoins through four separate deals made between December 5th and 6th. This was done after they closed their $850 million convertible note offering, resulting in a cost of around $139.5 million. Earlier, MARA had mentioned that the proceeds from this sale would be set aside for Bitcoin acquisition.

At present, MARA’s Bitcoin assets amount to approximately 22,108 Bitcoins, translating to a value of around $2.17 billion. Given its impressive 162% growth in Bitcoin holdings over the past month, it seems that the company has likely employed a bold treasury approach, one that appears to have been influenced by MicroStrategy.

Whales and Other Players Join Buying Trend

Just as BlackRock and MARA, a mysterious whale has taken advantage of the drop in Bitcoin’s price to purchase an additional 600 Bitcoins. Given the current market value, this transaction could set the account back approximately $58.9 million.

Contrarily to BlackRock and others, it appears that this account started acquiring Bitcoin quite recently, with its initial transaction being recorded on November 24th.

As a crypto investor, I’ve noticed that companies like Semler Scientific are adopting Bitcoin as part of their treasury strategy, too. In fact, they recently boosted their Bitcoin holdings to 1,873 by acquiring an additional 303 Bitcoins on December 4.

It’s clear that major institutions and corporations are increasingly taking notice of Bitcoin. In total, they currently possess approximately 527,026 Bitcoins, accounting for about 2.66% of the total circulating supply of this digital currency.

At the time of writing,  Bitcoin was trading at $97,821, down 4.83% over the past 24 hours.

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2024-12-06 15:25