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Bitcoin Price Breaks All-Time High As BlackRock and Fidelity Holdings Surge to $12,300,000,000 in BTC

March 08, 2024

Bitcoin (BTC) has once again hit a new all-time high, this time tapping $70,000 on the leading crypto exchange Coinbase.

But the crypto king still fighting to place resistance at the $69,000 level in the rear view mirror, and has dropped to $68,357 at time of publishing, up 1.6% in the last 24 hours.

Today’s record high comes as new numbers show BlackRock and Fidelity have now purchased at least $12.3 billion in BTC each on behalf of their clients.

And according to the on-chain analytics firm Arkham Intelligence, Wednesday was BlackRock’s biggest day of inflows yet.

“Blackrock received its highest EVER one-day on-chain inflow on Wednesday this week. +12.6K BTC ($842M). They now hold 183.3K BTC ($12.3B).”

Not to be outdone, Fidelity is now the 6th largest Bitcoin holder in Arkham’s database.

Fidelity currently holds over $12.3B Bitcoin, making them the 6th largest BTC holder on Arkham.

They custody BTC for clients including Microstrategy, the FBTC ETF and multiple trading firms.

How much BTC have they been accumulating recently? pic.twitter.com/kJfZY6C5j0

— Arkham (@ArkhamIntel) March 6, 2024

While the Bitcoin ETFs are smash hit, leverage won’t be coming anytime soon.

Yesterday, the U.S. Securities and Exchange Commission delayed its decision on two requests to add options to spot Bitcoin ETFs.

The agency will have another chance to give them the green light or further delay on April 24th.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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