While waiting on where to buy the dip, Blackrock just acquired over BTC 1,869 which is worth over $212.5m at current price according to Crypto R us. The dip is basically where you meet it these days.
Blackrock have the financial muscle to pull such amount of transactions, so am not surprised, wether there is a dip or not, they don't care amount the market situation, they already know their onion. Check the price of 1,869 Bitcoin in the next 6 years, then you will know that Blackrock knows exactly what they are doing. This just like a wake up call to investors to accumulate more, because looking at Blackrock with the amount of Bitcoin they have before now, and yet they are still heavily stacking up Bitcoin in thousands, how much more you that is still within the cradle stage when compared to this big guys.
It’s very clear that BlackRock isn’t looking for the perfect dip. They are buying because they already understand what Bitcoin will mean in the long run. If a company with that kind of reach is still stacking thousands of BTC, then it should tell the rest of us that waiting forever on the sidelines doesn’t make sense.
Even if we can’t buy in their size, the strategy is the same, keep accumulating with whatever we can. The real lesson here is that while retail investors argue about whether the price is too high or too low, the biggest players are busy securing supply that won’t come back to the market anytime soon.
Blackrock and Fidelity are buying Bitcoin to cover their spot Bitcoin ETFs (Tickers: IBIT & FBTC) that investors are eagerly buying in their brokerage accounts. Investors see the tremendous upside potential in Bitcoin, but are not interested in direct ownership and dealing with self-custody.