LATEST: BlackRock Bolsters Bitcoin Holdings Ahead of Halving

Crypto analysis firm LookOnChain reports that BlackRock has acquired an additional 1162 Bitcoin (BTC), valued at $72.82 million, increasing its total BTC holdings to 272,139 BTC, worth $17.06 billion. In contrast, Grayscale has reduced its BTC exposure by 2524 BTC, valued at $158.21 million, with current holdings at 311,621 BTC, worth $19.53 billion.

BlackRock’s BTC accumulation aligns with the upcoming halving event for Bitcoin, expected later this month. Analysts anticipate a potential market rally post-halving, similar to historical trends. The move may reflect BlackRock’s anticipation of a price surge amidst the halving event.

CoinCodex predicts a bullish trajectory for Bitcoin post-halving, forecasting a reclaiming of its all-time high and reaching $74,211 by April 24, 2024, implying a growth of approximately 16.7% from current levels. Moreover, CoinCodex anticipates BTC surpassing $84,000 by mid-May, with a predicted price of $84,406 by April 14, 2024, translating to a growth of about 32.7%.

LookOnChain

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