BlackRock CEO Larry Fink Reveals $24 Billion Bitcoin Holdings, Declares Himself a ‘Big Bitcoin Believer’

Now, BlackRock holds nearly $24 billion worth of Bitcoin (BTC) on behalf of its Btc Spot ETF investors. BlackRock’s CEO declared himself a “big Bitcoin believer.”

BlackRock is a world-famous fund management firm, managing nearly $10 trillion, a figure larger than the GDP of many countries. Earlier this year, the United States Securities and Exchange Commission (SEC) approved several Bitcoin spot ETF applications, including BlackRock’s IBIT.

On Friday of this week, the U.S. Bitcoin spot ETF market saw net inflows of $494.4 million, the highest since $886.6 million on June 4.

As per available records, BlackRock now holds a total of 365,310 BTC on behalf of BTC spot ETF investors, corresponding to $24 billion at the current Bitcoin trading price.

In a recent interview, BlackRock CEO Larry Fink said, “For the first three years I was a naysayer, and about two years then I switched and I’m a big believer (in #Bitcoin).”

At the current price level of Bitcoin, more than 84% of Bitcoin investors are in net profit, meaning that investors are confident with Bitcoin investment.

Bitcoin Price Action

The current trade price of Bitcoin is $65,693, and this price has remained calm for the last 24 hours.

A popular Bitcoin analyst shared his analysis, pointing out that the U.S. Dollar Index (DXY), which measures the dollar’s strength against other currencies, is breaking down from a strong support level. This suggests the dollar’s value might drop soon. Since Bitcoin (BTC) and the dollar tend to move in opposite directions, the weakening dollar could lead to a rise in Bitcoin’s price. The analyst believes this is a big opportunity for Bitcoin, and the crypto market could see a significant rise soon.

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