New data from blockchain analytics firm Akham shows that asset management titan BlackRock has been aggressively accumulating Bitcoin (BTC).
In a new thread on the social media platform X, Arkham say that BlackRock – which has more than $10 trillion in assets under management – bought billions of dollars worth of BTC in less than a week.
“BlackRock bought $2.6 billion worth of Bitcoin this week. That is more than half a billion per day.”
Bitcoin is trading at $99,137 at the time of writing, down marginally over the past 24 hours.
Arkham also reveals that the asset management giant has been swallow up also the best smart contract platform Ethereum (ETH) at a rapid pace.
According to Arkham data, BlackRock raised $500 million worth of Ethereum last week, sending its Ether balance up 50% in the past 30 days.
Ethereum is trading at $3,935 at the time of writing, down 1.33% in the past 24 hours.
Arkham too reveals the BTC holdings of SpaceX and Tesla, two technology companies owned by billionaire Elon Musk. According to the blockchain analytics firm, SpaceX and Tesla’s Bitcoin stacks are nearly three times their average cost base.
“Elon Musk’s companies’ Bitcoin is now worth $2 billion.
Tesla: 11,509 BTC ($1.17 billion);
SpaceX: 8,285 BTC ($842 million).
This Bitcoin was acquired at an average cost of $34,980 per BTC, meaning they are up $1.3 billion (186%) on these purchases.”
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Generated image: Midjourney