BlackRock has bought another $2.8 billion worth of Bitcoin.
They are increasing their Bitcoin holdings day by day. As a result, it is now becoming more and more credible to many that the value of Bitcoin will be much higher in the future which we may not even imagine. BlackRock has been regularly buying and holding Bitcoin through their IBIT ETF for just over 1.5 years, and their recent $2.8 billion Bitcoin purchase will undoubtedly have a positive impact on the Bitcoin market. When large companies like these start investing such huge sums in an asset like Bitcoin, it becomes clear that Bitcoin is going to be the world's most valuable digital currency for the foreseeable future.
You don't seem to be clear here that if BlackRock is buying bitcoin they are doing it because of the people, who have a growing demand for their spot ETF, not because the company itself is increasing its position in bitcoin as MSTR and others are doing. People demand more bitcoin, Blackrock buys. But if a panic were to break out in the markets and people start selling IBIT BlackRock will sell, unlike bitcoin treasury companies who don't sell no matter what.
They just got amaze on the figures but didn't check the intentions of those accumulation.
The fact is Blackrock doesn't have Bitcoin Treasury just like what MicroStrategy have. People provably got confused on those buy orders they made and they conclude that what Blackrock did is the same as what MicroStrategy do. But its really not this institution have different business model and philosophies.
But still everything is good since whatever adds demand on Bitcoin is good for Bitcoin and also for those investors holding it.