BlackRock and MARA Holdings Buy Nearly 10,000 Bitcoin Amid Price Drop
Bitcoin (#BTC) has attracted interest from major institutions like BlackRock and MARA Holdings despite a recent price dip. Reports indicate that between December 5 and 6, these entities, along with an unidentified whale, purchased nearly 10,000 Bitcoin during the price drop to $92,957.
BlackRock and MARA Lead Bitcoin Accumulation
BlackRock, the largest asset manager globally, acquired 7,750 Bitcoin, raising its total holdings to $48.9 billion based on current prices, according to Arkham Intelligence data. This purchase coincides with increased demand for shares of its spot Bitcoin exchange-traded fund (ETF), indicating growing mainstream acceptance of crypto.
Thomas Fahrer, founder of crypto markets firm Apollo, stated that BlackRock’s Bitcoin ETF is the “fastest-growing ETF ever.”
MARA Holdings purchased 1,423 Bitcoin over four transactions, spending $139.5 million following its $850 million convertible note offering. The company plans to use funds from this sale for Bitcoin accumulation, now holding 22,108 Bitcoin valued at approximately $2.17 billion. MARA's Bitcoin reserves have surged by 162% compared to last month, reflecting an aggressive treasury strategy inspired by MicroStrategy.
Whales and Other Players Join Buying Trend
An unidentified whale also took advantage of the BTC price dip, acquiring 600 Bitcoin for nearly $58.9 million. Blockchain data shows this account began accumulating Bitcoin only recently, with its first transaction recorded on November 24.
Other companies, such as healthcare tech firm Semler Scientific, have adopted similar strategies, increasing their Bitcoin holdings to 1,873 after purchasing 303 Bitcoin on December 4.
Institutional and corporate investors are increasingly focusing on Bitcoin, collectively holding 527,026 Bitcoin, which constitutes 2.66% of Bitcoin's total supply.
As of this writing, Bitcoin was trading at $97,821, down 4.83% in the past 24 hours.