Last week, BlackRock, the world’s largest asset manager with over $10 trillion in assets under management, made another significant investment in Bitcoin. With its latest purchase of $35 million worth of Bitcoin and $6.4 million worth of Ethereum, BlackRock’s total Bitcoin holdings have now reached 362,193 BTC.
After its recent purchase of Bitcoin, Blackrock holds approximately 1.70% of the total available Bitcoin.
Here are the top Bitcoin holdings by individuals and institutions:
- Satoshi Nakamoto- Around 1 million BTC
- Blackrock- 357,509 BTC
- Microstrategy- 226,500 BTC
- Grayscale- 225,671 BTC
- Binance- 498,147 BTC
- Fidelity- 178,349 BTC
BlackRock’s Head of Digital Assets stated, “For us, Bitcoin is not a risky gamble, but rather a scarce, global, decentralized, non-sovereign asset that has no country risk and no traditional counterparty risk.”
But the question remains, Is BlackRock buying more Bitcoin a good thing or bad thing?
BlackRock’s Bitcoin purchases might help boost the price because when a major player like BlackRock buys Bitcoin, it can create a bullish outlook and investors view it as a signal of confidence in Bitcoin’s long-term value.
Additionally, it brings Bitcoin into the spotlight as high-profile purchases by BlackRock attract significant media coverage. The more attention Bitcoin gets from major institutional players, the more it may attract new investors.
This is the perspective of major Bitcoin investors but I am looking at the other side of the coin. My opinion is somewhat negative. Even though BlackRock’s Bitcoin purchases bring attention to Bitcoin, as a true Bitcoiner, I believe it could also be unhealthy for Bitcoin. How?
As I mentioned earlier in this article, BlackRock now owns approximately 1.70% of the total available Bitcoin.
Blackrock is a company that holds shares in many of the world’s largest companies across various industries.
BlackRock holds substantial shares in major global companies like Apple, Microsoft, Amazon, Alphabet (Google), Tesla, Facebook (Meta), and Berkshire Hathaway. These are just top names, BlackRock holds shares in thousands of companies globally.
I won’t make any concrete remarks, but if you’re smart enough, you’ll connect the dots as to why BlackRock is buying more and more Bitcoin.
As I mentioned, BlackRock holds shares in all the major companies, along with thousands of others worldwide.
BlackRock owns large amounts of stock in many companies across different industries, which gives it a lot of power and influence in the business world. Because of this, BlackRock can push companies to follow certain practices.
In simple words, BlackRock has the power to make and bend the decisions.
When Satoshi created Bitcoin in 2008, its core principle was decentralization—a system not controlled by any single entity, government, or central organization. Bitcoin was designed to be “by the people, for the people.” Its decentralized nature means that no entity, no matter how powerful, can truly control the Bitcoin network.
Owning 1.70% of the total Bitcoin supply doesn’t mean it can be controlled, but it can definitely be influenced, in my opinion.
So one big famous institution buying more and more Bitcoin can be good for marketing for Bitcoin but from the decentralised concept of Bitcoin, it’s not healthy.
Thank you cupcakes, I appreciate your time and support.
3 Responses
I’m with you on your conclusion bro.