Originally published on: December 06, 2024
In the midst of Bitcoin’s price dip to $92,957 on Dec. 5, major players BlackRock and MARA Holdings made big moves by purchasing a total of 9,173 Bitcoin. BlackRock acquired a staggering 7,750 Bitcoin, increasing its total holdings to $48.9 billion. The firm’s spot Bitcoin exchange-traded fund saw a surge in buyer interest, with crypto markets expert Thomas Fahrer calling it the “Fastest growing ETF EVER.”
On the other hand, Bitcoin miner MARA Holdings made significant Bitcoin purchases totaling 1,423 Bitcoin worth $139.5 million. This followed the closing of their second $850 million convertible note offering, demonstrating a strategic move to accumulate more Bitcoin. MARA now boasts 22,108 Bitcoin worth $2.17 billion, showing a remarkable 162% increase from the previous month.
In addition to these major players, an unknown crypto whale also capitalized on Bitcoin’s price drop by acquiring 600 Bitcoin worth almost $58.9 million. This mysterious whale only started holding Bitcoin since Nov. 24, according to BitInfoCharts data.
Health-care tech firm Semler Scientific also jumped on the Bitcoin bandwagon, purchasing 303 Bitcoin at an average price of $96,779 on Dec. 4. This move increased the firm’s Bitcoin holdings to 1,873 Bitcoin worth $182.8 million.
Overall, Bitcoin-stacking firms like Semler Scientific collectively hold 527,026 Bitcoin, representing 2.66% of Bitcoin’s current supply. In contrast, governments hold 2,856 Bitcoin, while asset management firms and private firms have 1,253 Bitcoin and 410,418 Bitcoin, respectively.
Despite the price drop, Bitcoin continues to hold strong at $97,580. Stay tuned for more updates on the latest developments in the crypto space by subscribing to the Finance Redefined newsletter. Get insights, analysis, and opportunities delivered to your inbox every Friday. Subscribe now to make informed decisions with confidence.
