Financial giant BlackRock adds BTC to its passive investment fund

Especially for a limited circle of elite clientele, Blackrock has joined forces with the Coinbase exchange to provide institutional investors with the opportunity to invest in crypto assets. The US asset management company has added the world's largest digital currency by market capitalization to its Global Distribution Fund for Passive Investors. According to analysts, now on centralized exchanges (CEX), the number of bitcoins available for purchase does not exceed 1.85 million units.. Given the current price of BTC, which is about $17,000, the total is estimated at $31.4 billion. With about $15 trillion in assets under BlackRock’s current management, the corporation would need only 0.32% of its own funds to purchase all bitcoins available for sale on all exchanges. Even if BlackRock’s investment in bitcoins is one-time, they will undoubtedly have a huge impact on the growth of the BTC price, as well as entail the activity of other investment companies. Last December, a popular stock-to-flow cryptocurrency analyst named PlanB once again reaffirmed his expectations for a massive rise in Bitcoin in 2023 or at least 2024.