BlackRock Gobbles Up $2,600,000,000 Worth of Bitcoin (BTC) in Just One Week: Arkham

New data from blockchain analytics firm Akham reveals that asset management titan BlackRock has gone on an aggressive Bitcoin (BTC) accumulation spree.

In a new thread on the social media platform X, Arkham says that BlackRock – which has over $10 trillion in assets under management – bought billions of dollars worth of BTC in less than a week.

“BlackRock bought $2.6 billion of Bitcoin this week. That’s more than half a billion every day.”

Bitcoin is trading for $99,137 at time of writing, a marginal decrease during the last 24 hours.

Arkham also reveals that the asset management giant has been gobbling up the top smart contract platform Ethereum (ETH) at a rapid rate as well.

According to Arkham’s data, BlackRock has scooped up $500 million worth of Ethereum last week, raising its balance of Ether by 50% during the last 30 days.

Ethereum is trading for $3,935 at time of writing, a 1.33% decline in last 24 hours.

Arkham also unveils the BTC holdings of SpaceX and Tesla, two tech companies owned by billionaire Elon Musk. According to the blockchain analytics firm, the Bitcoin stacks held by SpaceX and Tesla are up nearly 3x from their average cost basis.

“Elon Musk’s companies’ Bitcoin now worth $2 billion.

Tesla: 11,509 BTC ($1.17 billion);

SpaceX: 8,285 BTC ($842 million).

This Bitcoin was acquired at an average cost basis of $34,980 per BTC, meaning they are up $1.3 billion (186%) on these purchases.”

Generated Image: Midjourney