BlackRock buys more Bitcoin as Goldman Sachs reveals its crypto holdings.
Goldman Sachs discloses holdings worth over 2 billion in crypto.
The entity is holding BTC, ETH, XRP, and SOL.
The crypto market has experienced a brutal drop in prices this month. Indeed, the New Year was no happy start for the crypto community and the call for a bear market to have begun seems to be more true than ever before. A ray of hope shines through as whales take the dip as an opportunity to accumulate. In detail, BlackRock buys more Bitcoin as Goldman Sachs discloses holdings worth over 2 billion in crypto.
BlackRock Buys More Bitcoin as Goldman Sachs Reveals Crypto Holdings
According to CoinMarketCap analytics, the price of Bitcoin (BTC) has been falling steadily for the last few months. The last month alone records a dip of over 27%, taking the price of BTC from $90,000 prices to almost $60,000. Presently, the price of BTC staggers to trade between the $60,000 and $70,000 price ranges, an event that was followed by severe panic-selling.
Presently, most reputed analysts are still locked in heated debate over what type of market the crypto market is in, a bearish or bullish one? As more and more analysts argue over bear and bull trap formations, it is clear that price charts show support for either event playing out, depending on how large holders will react. So far, heavy sell-offs and heavy buys have both been highly active.
In fact, many popular crypto accounts have been shining a light on increased BTC whale buying activity. While some others highlighted how Buterin was selling ETH. To balance this ou,t Tom Lee bought a large amount of ETH, leading to a steady price balance. Meanwhile, other big players have also taken the dip as a big opportunity to accumulate more of their favorite assets.
https://twitter.com/AshCrypto/status/2021434103908925688
As we can see from the post above, BlackRock and other ETFs bought $166,560,000 worth of Bitcoin (BTC). These entities' active action in buying and holding more BTC shows their long-term faith in the asset. What’s more, it boosts the 5-year super cycle theories and allows for bullish expectations to hold strong. Another bullish sign came from Goldman Sachs.
Goldman Sachs Discloses Holdings Worth Over 2 Billion in Crypto
https://twitter.com/WatcherGuru/status/2021325189674357204
As we can see from the post above, Goldman Sachs discloses holding $2,360,000,000 worth of crypto. That is over 2 billion that the entity is holding in crypto assets. These assets include $1,100,000,000 held in Bitcoin (BTC), $1,000,000,000 held in Ethereum (ETH), $153,000,000 held in Ripple’s XRP, and $108,000,000 held in Solana (SOL). This is indeed a highly bullish sign for the crypto market’s long-term success.