BlackRock made a significant purchase, acquiring close to $590 million worth of ETH and BTC in the last few days. This has certainly gone unnoticed and has had some important effects on the blockchain.
The investment has made people wary about the subsequent price movement. As per sources, the firm was already holding on to 636,000 BTCs. However, after this, the holding grew to 639,000 tokens. This significant rise in the number of tokens can position BlackRock as one of the industry leaders.
Apart from BTC, the firm also invested in ETH. This investment is equally significant as BlackRock is making active strides to hold the most popular tokens in the world. Therefore, this could suggest some aggressive scaling on BlackRock’s part.
This is not limited to BlackRock. Another popular firm, Fidelity, is also on the path to making similar investments, which is creating significant shockwaves in the industry.
