BlackRock's BTC spot ETF IBIT is expanding its market influence by holding approximately 2.8% of the total Bitcoin supply, and Bitcoin price has surpassed $95,000 amid intensifying global economic uncertainty.
According to TheBlock on the 25th (local time), BlackRock's BTC spot ETF IBIT is holding about 2.8% of the total BTC supply and has purchased an additional $1.2 billion worth of BTC this week alone. Arkham Intelligence revealed that BlackRock currently holds over 582,000 Bitcoins, which is approximately $56 billion in value. While BlackRock is managing customer assets and not directly investing, the market is paying attention to Bitcoin accumulation through BlackRock's ETF. Last Wednesday, it recorded the largest single-day capital inflow of $643 million in 13 weeks.
BlackRock is expanding into global markets by recently launching a Bitcoin-based ETP in Europe. Jay Jacobs, BlackRock's US Stock ETF Head, predicted in a CNBC interview that "assets like gold and Bitcoin will show strength if global economic uncertainty intensifies." BlackRock CEO Larry Fink warned in his recent annual letter that "digital assets could weaken America's economic superiority and Bitcoin poses a risk of replacing the dollar." Fink pointed out that due to increasing US debt, government interest expenditure exceeds defense spending, and if left unchecked, federal income could be entirely consumed by debt repayment by 2030. Meanwhile, Bitcoin was trading at $95,401 on the 25th.
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