BlackRock, the $10 trillion asset manager, is reportedly buying shares in public companies associated with Bitcoin mining. It is said to be among the biggest shareholders in influential Bitcoin mining firms such as Riot Blockchain, Marathon, CipherMining, and TerraWulf. BlackRock has also increased its shares in Cipher Mining and TerraWulf significantly. However, it has shown pessimism towards Hut 8 Mining Corp by selling 90,000 of its stocks. The estimated value of BlackRock’s shares in public Bitcoin mining companies is over $250 million. The asset manager’s strategy of increasing exposure to Bitcoin during the market dip has gained popularity in the cryptocurrency community. BlackRock is also said to be purchasing stocks of MicroStrategy, the largest corporate Bitcoin holder.
AI Sentiment: Positive
