BlackRock, according to the crypto-analysis firm LookOnChain has acquired another 1162 Bitcoins (BTC) worth $72.82 millions. The largest asset manager in the world currently owns 272,139 BTC. This is worth approximately $17.06 billion.
Grayscale reduced exposure to BTC by 2524 BTC (worth $158.21 Million) while BlackRock increased their BTC holdings. Grayscale holds 311 621 BTC worth $19.53 billion.
Also Read: BlackRock Launches Bitcoin ETF Ads on Bloomberg’s Homepage
BlackRock made its latest BTC investment at the same time as BTC’s asset halving is due in late this month. As in past instances, many analysts expect the BTC halving to lead to a general market rally. It’s possible that the asset manager made his latest purchase because he expected a surge in price.
Bitcoin (BTC) to rally in the near future?
CoinCodex says that Bitcoin may explode after its event of halving. According to the platform, BTC is predicted to reach its highest level ever in this month. 24, 2024. A growth rate of 16.7% would be achieved by reaching $74,211, compared to current levels.
Also Read: 3 Cryptocurrency Meme Coins Set To Surge 200% Post Bitcoin Halving.
CoinCodex expects BTC’s price to rise over the coming months. next The $84,000 threshold will be reached by the middle of May. Platform predicts BTC will hit $84,406 by April. 14, 2024. A growth of 32.7% would be achieved by reaching $84,406 compared to current levels.
Changelly Also, the report paints a picture that is bullish for Bitcoin (BTC), and predicts it will reach $76,486 in April 2024. 27, 2024. The platform also predicts that BTC will reach $83,826 by May 12, 2024.
Hong Kong has recently approved the applications of Ethereum and Bitcoin ETFs. BTC hit a record-breaking high of $73,737 last month, thanks to the US Securities and Exchange Commission (SEC) approving 11 BTC spot ETFs. Hong Kong ETH ETFs and BTC may follow a similar trend.
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Source: watcher.guru