BlackRock Invests $970 Million in Bitcoin Amidst Institutional Sell-Off

BlackRock’s recent investment of $970 million in Bitcoin stands out amidst a significant sell-off by major funds. Blockchain analytics platform Arkham used visual chain analysis to reveal BlackRock’s purchase, highlighting its concentrated wallet activity. This action by BlackRock suggests a long-term belief in Bitcoin’s potential despite short-term market fluctuations or profit-taking by other investment firms.