When the price of Bitcoin fell below $ 80,000, a great panic on social media began and the claims that Blackrock sells $ 500 million sells BTCs worried investors. So, does the world’s largest asset manager really sell Bitcoin? Here are the details!
Does it sell Blackrock Bitcoins?
A popular account called Crypto Beast claimed that Blackrock made a major sale on February 27th. However, the data does not support this claim. Blackrock’s Ishares Bitcoin Trust (IBIT) fund is still holding 577.919 BTC.
IBIT has experienced an exit of 10,595 BTC in the last seven days. However, this does not mean that Blackrock has a conscious sale. As investors sell ETF shares, the fund needs to reduce BTC reserves. This is a process based entirely on market demand.
Blackrock actually exposes more to Bitcoin
There is no evidence that Blackrock has left Bitcoin. On the contrary, the company invests more in crypto assets. Recent documents show that the company increased its shares in Microstrategy (MSTR) from 4.09 %to 5 %.
In addition, on February 28, Blackrock’s $ 150 billion model portfolio will add Bitcoin ETF. This move shows the company’s confidence in Bitcoin. There is no evidence that Larry Fink sells BTC.
Panic and facts on the market
When the Bitcoin price decreases, panic sales accelerate and speculation increases. However, such news can often be misleading. There is no concrete evidence that Blackrock sells Bitcoin. What really happens is that investors sell ETF shares and the fund adapt to it.
Blackrock does not leave Bitcoin, but rather invests more! It is important to look at real data before you are subjected to speculation.
Role of Bitcoin and Corporate Investors
Corporate investors play an important role in Bitcoin’s price movements. Giant financial companies such as Blackrock usually move with long -term strategies. Therefore, funds outputs can create a short -term decrease, but large investors often support the market by purchasing at the bottom levels. If Bitcoin continues to take place more in corporate portfolios, these decreases may be the beginning of a new rise in the long term. Therefore, investors need to evaluate the general aspect of the market without getting into instant speculation.
