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BlackRock and MARA acquire nearly 10K Bitcoin together

BlackRock and MARA acquire nearly 10K Bitcoin together

GrafaGrafa2024/12/06 09:40
By:Isaac Francis

BlackRock and MARA Holdings have made significant Bitcoin (CRYPTO:BTC) purchases as the cryptocurrency's price declined. 

On December 5, these firms acquired a total of 9,173 Bitcoin, with BlackRock purchasing 7,750 Bitcoin and MARA Holdings buying 1,423 Bitcoin

This brings BlackRock’s total Bitcoin holdings to over $48.9 billion, according to blockchain data from Arkham Intelligence.

Thomas Fahrer, founder of Apollo, remarked on the rapid growth of BlackRock’s Bitcoin exchange-traded fund (ETF), calling it “the fastest growing ETF EVER.”

MARA Holdings' recent purchases were made following the completion of its second $850 million convertible note offering, which is intended to bolster its Bitcoin reserves. 

Currently, MARA holds 22,108 Bitcoin valued at approximately $2.17 billion, reflecting a notable 162% increase from the previous month.

In addition to these corporate purchases, an anonymous whale took advantage of the price drop by acquiring 600 Bitcoin for nearly $58.9 million.

This whale's wallet had no previous Bitcoin holdings before making its first transaction on November 24.

Additionally, health-care technology firm Semler Scientific purchased 303 Bitcoin on December 4 at an average price of $96,779, increasing its total holdings to 1,873 Bitcoin worth about $182.8 million.

As of now, Bitcoin is trading at around $97,580, down approximately 4.9% over the last 24 hours.

According to data from BitcoinTreasuries, public firms collectively hold a substantial amount of Bitcoin, with a combined total of 527,026 Bitcoin representing about 2.66% of the total supply.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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