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BlackRock Increases Bitmine Stake to Over 9 Million Shares: What’s Next?

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If you think the institutional appetite for crypto ended with the ETF approvals, look again. In a move that signals massive long-term conviction, the world’s biggest asset manager, BlackRock, has reportedly increased its stake in Bitmine to over 9 million shares, according to a recent 13H-FR filing surfaced on X.

While retail traders are distracted by red candles, the world’s largest asset manager is actively seizing more infrastructure.

This isn’t just a passive buy; it’s a statement. When Larry Fink’s firm moves millions of shares in a crypto-native company, it changes the liquidity map for everyone involved.

Context: The Wall Street Pivot Continues

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This accumulation comes hot on the heels of BlackRock’s dominance in the spot ETF market.

Their iShares Bitcoin (BTC) Trust has already shattered growth records, surpassing $70 billion in assets faster than any ETF in history.

Now, by significantly increasing exposure to Bitmine, the world’s biggest asset manager is doubling down on the operational side of the blockchain ecosystem.

While headlines often focus on spot price, smart money follows the institutional hedging and whale positioning deeper in the stack.

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BlackRock holding over 9 million shares suggests it sees mining and infrastructure not as a risky bet, but as a critical asset class worthy of its balance sheet.

Discover: The best new crypto on the market

BlackRock and Bitmine: Strategic Accumulation or Just a Hedge?

Why buy the miners when you already own the coin? This is the question savvy traders need to answer.

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Owning equity in operations like Bitmine offers BlackRock a strategic leveraging of Bitcoin’s success without the custody fees associated with direct coin holding.

This stake increase indicates that BlackRock believes the sector is currently undervalued relative to its future cash flow potential.

Furthermore, this aligns with a broader trend of incumbents staking claims in the digital asset space. We are seeing similar aggressive moves elsewhere, such as Goldman Sachs revealing significant crypto holdings.

Wall Street is no longer dipping a toe in; they are buying the swimming pool.

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What Traders Should Watch Next

If you are holding crypto-linked equities or spot BTC, this is a bullish signal for the medium term. Institutional accumulation usually precedes a supply squeeze.

Watch for two things in the coming weeks:

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  • Sector Correlation: Does Bitmine’s stock price begin to decouple from daily BTC movements due to this institutional support?
  • Global Sentiment: This Western accumulation parallels bullish crypto sentiment emerging in Hong Kong, suggesting a coordinated global bid for crypto assets is forming.

Ignore the minute-by-minute candles and watch the whales. When BlackRock buys 9 million shares, they aren’t planning to sell next week.

Discover: The ultimate crypto for portfolio diversification

The post BlackRock Increases Bitmine Stake to Over 9 Million Shares: What’s Next? appeared first on Cryptonews.

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Crypto World

Crypto Scam Leader Extradited to China to Face Charges

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Crypto Scam Leader Extradited to China to Face Charges

Li Xiong, a key member of a group that allegedly helped crypto scam rings in Asia to move money, has been extradited from Cambodia to China, where he will face fraud and money laundering charges, according to Hong Kong-based news outlet Ta Kung Wen Wei.

On April 1, with strong support from the relevant authorities in Cambodia, a task force sent by China’s Ministry of Public Security successfully escorted Li Xiong, a core key member of the Chen Zhi criminal syndicate, back to China from Phnom Penh, Cambodia,” it said on Wednesday, citing a statement from China’s Ministry of Public Security on WeChat.

Xiong previously served as chairman of Huione Group, an alleged criminal organization that served scam centers in Cambodia that carried out “pig butchering” scams and other investment schemes to steal crypto from victims around the world. 

Huione Group was responsible for one of the largest illicit online marketplaces in the world, handling over $89 billion in cryptoassets.

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Source: Jacob in Cambodia

His extradition comes three months after the arrest of Chen Zhi, the head of Prince Group, which operates Huione Group. In October, it was reported that the US Department of Justice seized 127,271 Bitcoin (BTC) worth more than $15 billion from Zhi.

Related: Hong Kong retiree loses $840K in triple ‘crypto expert’ scam

The US Treasury Department’s Financial Crimes Enforcement Network directed US banks to cut payments and accounts tied to the Huione Group in October.

Authorities ask other Huione members to surrender

Ta Kung Wen Wei noted that several other members of Zhi’s criminal syndicate have been brought to justice “one after another,” citing comments from Chinese public officials.

“Public security authorities will continue to intensify efforts to capture fugitives,” it said, adding:

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“At the same time, they once again warn criminals to recognize the situation, stop before it is too late, surrender as soon as possible, and strive for lenient treatment.”

Magazine: Banks want to run Vietnam’s crypto exchanges, Boyaa’s $70M BTC plan