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After a period of selling, BlackRock returned to strong buying of Bitcoin, buying more than $505 million in Bitcoin in just two days, a move that reflected improved institutional confidence in the market.
These purchases have accompanied Bitcoin’s rise and return to $75,000 levels, reinforcing expectations that a new upward wave has begun.
Observers believe these moves could be a sign that large investors are preparing for a more positive phase in the market.
The transactions also boosted BlackRock’s total Bitcoin holdings to about $59.3 billion, reflecting its growing weight in the digital currency market.
Notably, the company’s investments fell sharply during February’s volatility, but have recently recovered, adding more than $11 billion to its holdings since that period.
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