BlackRock buys $1B worth of bitcoin on Christmas Eve
As many of us expected, the floodgates have opened. One of our members, Morganroth, mentioned last week that the US federal reserve has cut interest rates by 25 points which affected every major cryptocurrency, even bitcoin. BlackRock has taken extremely bold measures to seize the opportunity of this dip and purchased $1B worth of bitcoin. The comparatively new asset is open to experimentation by BlackRock. Even though this company already owns a significant portion of the entire Bitcoin supply, it will not risk investing more than it can afford to lose, and the recent buy-in is just another acquisition by a business that undoubtedly recognizes the value of Bitcoin. One bitcoin is, after all, one bitcoin. Follow us closely on Part Time Crypto Academy to monitor all crypto updates and feel free to reach out to any of us with helpful advice and insights to all things crypto related.