- Blackrock bought 796 BTC after Trump tariffs & markets decline
- Total purchase is ~$66.17M, and its holdings are 575,492 BTC
- Other ETFs are cautious and not buying except Valkyrie
Blackrock bought 796 BTC after Trump tariffs and markets declined and Jerome Powell’s speech about possible interest rate cuts but with rising inflation and economic challenges.
The purchase is roughly $66.17M, at an average cost of $83.1K per BTC, bringing its holdings to 575,492 BTC.
More About Another Blackrock Push and the Bitcoin Dips Purchase
This isn’t the first time we’ve seen Blackrock buying Bitcoin dips, and as usual, it’s doing so quite assertively and decisively. In particular, the 796 BTC immediately on April 3 consisted of three consecutive transactions through Coinbase.
- The first 300 BTC is worth ~$24.98M
- The second 195,527 BTC is worth ~$16.28M
- The third 300 BTC is worth ~$24.91M
Interestingly, Blackrock decided to make not only an impressive purchase in a highly volatile market but became the only one to do so today.
Almost the only one, as we saw a strong move from Valkyrie, who also decided to purchase Bitcoin, albeit not to the same extent. Specifically, Valkyrie bought 31 BTC.
But we can look at it another way because yesterday right after the announcement of Trump’s tariffs, when the market was highly shocked – we saw even larger purchases from competitors. Specifically, Fidelity purchased 1,375 BTC, and Ark/21 Shares as much as 1,500 BTC. Also smaller but very significant were Grayscale Mini 416 BTC, Bitwise 386 BTC, Franklin Templeton 265 BTC, Invesco 182 BTC, and Van Eck 88 BTC.
Conclusion
Overall, we see a picture of big players buying BTC in impressive volumes in response to radical political and economic decisions, and dramatic market dynamics.
Are they using the low prices for profitable accumulation in their long-term strategy? Are they seeking to support the Bitcoin price by continuing to prioritize this investment instrument?
Both are possible, as well as additional far-reaching strategic reasons that we’ll get to later. What is important right now is that we are not seeing massive sell-offs, and this could likely mean that the current strategies and priorities remain in place even in the face of strong momentum.
Stay tuned for updates, be adaptive in the rapidly evolving financial and crypto landscape, and keep your strategy grounded, balanced, and beneficial.
