Two giants are rushing towards Bitcoin.

The crypto market is going through a turbulent time. Bitcoin is hovering below $61,000, causing panic among retail investors. However, giants like BlackRock and Metaplanet are far from being intimidated and are instead showing opportunism. They are taking advantage of this decline, strengthening their positions and once again underlining their confidence in the future of cryptocurrencies. But why are these financial giants flocking to Bitcoin while others are turning away?

Despite the current decline, BlackRock insists on increasing its Bitcoin holdings. In the last fifteen days, the world's largest asset manager has acquired an additional 12,272 BTC, bringing its total reserve to nearly 369,822 BTC, worth around $22.4 billion. This catapults the USA to the top.

This acquisition comes after a notable lull between late August and mid-September, during which BlackRock made no new purchases, preferring to monitor market fluctuations.

However, as of September 24th, BlackRock is back. This time, purchases are intensifying with every Bitcoin decline. According to analysts, this persistence indicates a strong belief in the potential of cryptocurrencies as an alternative to inflation and the devaluation of fiat currencies, especially the US dollar.

BlackRock doesn't just buy; It now openly recommends the purchase of Bitcoin, highlighting its role as a safe haven in an unstable economic environment.

On the other hand, Metaplanet, the investment fund of Jaan Tallinn, co-founder of Skype, has also positioned itself strategically.

The company recently acquired 108.99 BTC for a total of one billion yen, increasing its holdings to 748.50 BTC. For Metaplanet, this acquisition is a new step in its long-term investment strategy, which leverages bear cycles to accumulate more Bitcoin.

Whale panic selling increases volatility

As BlackRock and Metaplanet take a “buy the dip” approach, some crypto whales are panicking.

The recent decline in Bitcoin has led to massive selling, highlighting the increasing nervousness of institutional and retail investors.

A striking example: a whale that had accumulated over 11,000 BTC since June liquidated 800 BTC after a sudden decline, causing a significant loss of almost $26 million.

This sale reflects a trend among the largest Bitcoin holders, who, despite their market influence, are not immune to emotional moves.

The panic moves of these whales increase market instability and lead to unprecedented long liquidations.

More than $53 million was liquidated in just 24 hours, reminding retail investors that the crypto market remains extremely volatile.

Still, BlackRock and Metaplanet view the same volatile environment as an opportunity to assert their dominance. Their strategies differ from those of ordinary whales: instead of panicking, these giants buy strategically at prices that are considered undervalued. However, the market is threatened with a devastating shock.

Evans S.

Fascinated by Bitcoin since 2017, Evariste was not informed about the subject's documentation. If your first interest is in trading, it is likely that you are actively aware of all the advanced centers in the cryptocurrency markets. As an editor, I strive to consistently produce work of the highest quality that reflects the leader's profession in his ensemble.

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be construed as investment advice. Do your own research before making any investment decisions.