BlackRock Buys $1.2 Billion ETH and $267 Million BTC, Marking Over 4 Times As Much ETH Vs BTC Las...

BlackRock buys $1.2 billion ETH and $267 million BTC.

The entity has bought over 4 times as much ETH vs BTC last week.

ETH whales also accumulated over $2.43 billion worth of ETH this month.

Bitcoin and Ethereum are still going head-to-head. Despite Bitcoin Dominance rapidly falling, ETH and altcoin Dominance are yet to take over. Presently, BTC and ETH accumulation on an institutional level hasn’t slowed down, showing strong promise for both assets to rise in price. In particular, BlackRock buys $1.2 billion ETH and $267 million BTC, marking over 4 times as much ETH vs BTC last week

BlackRock Buys $1.2 Billion ETH to $267 Million BTC

This bull cycle saw an increased buying in both BTC and ETH accumulation, a big change from the last bull cycle, where only Bitcoin (BTC) was being bought by large entities. To highlight, it all began when El Salvador announced that it was making Bitcoin a legal tender within its borders. Soon after, the country bought BTC and even provided $50 worth of BTC to its citizens through a special crypto wallet

Furthermore, El Salvador began to ethically and efficiently mine Bitcoin using the geothermal power of its volcanoes. Thus, EL Salvador became the leader in an early BTC accumulation race. To this day, El Salvador continues to accumulate BTC in bulk, despite external factors trying to slow it down. Inspired by the nation’s successful Bitcoin strategy, Michael Saylor too began to follow the Bitcoin philosophy

BlackRock Bought Over 4 Times More ETH vs BTC Last Week

Presently, Saylor’s Strategy is one of the biggest BTC accumulators and Saylor, one of the loudest Bitcoin advocates in the crypto realm So much so, that Saylor even went on to advise Trump to accumulate up to 20% of the available BTC supply soon after the US Strategic Crypto Reserve was announced. During the current bull cycle, several new players have entered the BTC accumulation race

To highlight, financial institutions, known as the largest asset managers in the world, like BlackRock began to accumulate BTC and ETH this bull cycle. The subtle shift in this bull cycle is that institutions have started to accumulate Ethereum (ETH). In fact, ETH accumulation seems to have begun to surpass BTC accumulation at the present moment in the ongoing crypto bull cycle

As we can see from the post above, BlackRock bought over 4 times as much ETH vs BTC last week. In particular, BlackRock purchased over $1.2 billion ETH last week, against only $267 million BTC. The post above shows that ETH whales have also begun to heavily accumulate ETH, with the latest accumulation of 12,000 ETH worth $45 million. In total, 9 fresh wlalets accumulated 640,646 ETH worth $2.43 billion.