The Bitcoin market has recently seen a significant decline. However, this did not prevent major players from taking advantage of this opportunity to accumulate significant reserves. Details in the paragraphs that follow!
BlackRock and MARA Holdings adopt aggressive strategy to accumulate Bitcoin
BlackRock justacquire an impressive total of 7,750 BTC at an average price of $92,000. These strategic purchases bring his Bitcoin fund's total holdings to a staggering $48.9 billion. This movement highlights the growing interest of institutions in cryptocurrency, even during periods of falling prices.
For its part, MARA Holdings has intensified its commitment to Bitcoin. The mining company has in fact justbuy 1,423 BTC for a total value of $139.5 million. These acquisitions come after the fundraising of $850 million via convertible bonds.
With this new strategy, MARA now holds 22,108 BTC. His crypto assets increased by 162% in one month. This choice reflects an aggressive accumulation policysimilar to that of MicroStrategy. The objective: to maximize BTC reserves.
A whale and other crypto investors are following suit
Besides the institutional behemoths, a mysterious crypto whale has also taken advantage of the recent drop in the price of Bitcoin to strengthen its position. This wallet address, identified by Lookonchainhad not recorded any activity until his first transaction on November 24. Since then, she has accumulated 600 BTC. This represents an estimated value of $58.9 million at the time of purchase.
Other companies like Semler Scientific have followed a similar strategy. On December 4, the company purchased 303 Bitcoins at an average price of $96,779, hours before the price surpassed the $100,000 mark. This acquisition brings his total crypto holdings at 1,873 BTCvalued at $182.8 million.
Certainly, the price of Bitcoin has stabilized around $98,000 at the time of writing this article. Nonetheless, these massive purchases show increased confidence among major players in the long-term value of cryptocurrency. Could this trend mark a turning point in the market? To be continued…
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