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    Home » BlackRocks Bitcoin Resilience 27 Billion Investment to Combat Economic Forces
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    BlackRocks Bitcoin Resilience 27 Billion Investment to Combat Economic Forces

    By adminOct. 29, 2024No Comments1 Min Read
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    BlackRocks Bitcoin Resilience 27 Billion Investment to Combat Economic Forces
    BlackRocks Bitcoin Resilience 27 Billion Investment to Combat Economic Forces
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    BlackRock, the world’s leading asset manager, has significantly increased its Bitcoin holdings, now valued at nearly $27 billion.
    Recent data
    reveals
    that the firm possesses 403,725 BTC through its iShares Bitcoin Trust exchange-traded fund (ETF). Over the past two weeks alone, BlackRock has
    acquired
    an additional 34,085 BTC, totaling approximately $2.3 billion.
    Launched on January 5 of this year, the iShares Bitcoin Trust ETF (IBIT) has achieved impressive returns of 44.80% as of September 30.
    In a recent analysis, BlackRock, which manages over $10 trillion in assets, highlighted
    Bitcoin’s
    potential as a safeguard against rising U.S. debt and broader economic uncertainties.
    READ MORE:


    Billionaire Venture Capitalist Claims Bitcoin Will Surpass Gold as Top Inflation Hedge
    The firm notes that while Bitcoin can briefly correlate with equities and other risk assets, its fundamental drivers differ markedly, often acting inversely to traditional investments.
    Amid escalating geopolitical tensions and concerns surrounding U.S. fiscal health, Bitcoin is increasingly viewed as a unique diversifier against various financial and geopolitical risks that investors encounter.

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