JAKARTA - The crypto market was recently shocked by the shocking news about BlackRock, the world's largest asset manager, who turns out to be selling Bitcoin (BTC) holdings through their Exchange Trade Fund (ETF), iShares Bitcoin Trust Bitcoin Holdings (IBIT).
This was revealed through Arkham Intelligence's post on platform X, which shows that the latest flow of transactions has shown a significant decline in Bitcoin ownership by BlackRock.
This news is quite surprising, considering previously many expect BlackRock to continue to increase its BTC holdings, especially after they moved large amounts of Bitcoin to cold storage in May 2024, which is considered a long-term investment strategy. Many investors see this move as a positive signal, as one of the world's most conservative financial institutions shows confidence in the future of Bitcoin.
However, on December 26, 2024, BlackRock surprised the market by selling $18.7 million worth of Bitcoin, which is their biggest sales so far. On the same day, they also transferred $1.88 billion worth of Bitcoin to Coinbase wallets. This sale raises speculation that BlackRock may have responded to the recent decline in the crypto market.
SEE ALSO:
-
| TEKNOLOGI
Kasus Terra LUNA, Do Kwon Didakwa Rugikan Investor Sebesar Rp620 Triliun
10 Januari 2025, 00:05
According to the latest data from Farside Investors, on January 2, 2025, IBIT experienced the largest outflow in a day, with investors withdrawing funds of 332.6 million US dollars (Rp5.38 trillion). Even so, for the next four days, there was no significant net outflow, but on January 8, 2025, the outflow increased again to 100 million US dollars (Rp1.62 trillion).
BlackRock's decision has led many to question the direction of the Bitcoin market going forward. Some analysts argue that this could create short-term bearish sentiment, although some long-term investors may see this as an opportunity to buy at a lower price.
On the other hand, BlackRock has also recently released an educational video questioning whether the Bitcoin supply limit limited to 21 million will survive. This situation adds to concerns over their influence in the crypto industry, especially about questions about changes in Bitcoin's basic properties.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
