Ifeanyi Jesse 
BlackRock Buys $72.8M in Bitcoin Before Halving
BlackRock Acquires $72.8M More Bitcoin (BTC)
According to Bitcoin monitoring firm LookOnChain, BlackRock has added 1162 Bitcoins (BTC) worth $72.82 million. The world’s largest asset manager owns 272,139 BTC, totaling $17.06 billion.
While BlackRock increased its BTC holdings, Grayscale lowered its exposure by 2524 BTC, totaling $158.21 million. Grayscale presently owns 311,621 bitcoins, valued at $19.53 billion.
BlackRock’s newest Bitcoin purchase coincides with the asset’s upcoming halving event later this month. Many analysts foresee a market-wide rise following BTC’s halving, as has previously occurred. The asset manager’s most recent purchase could be motivated by rising prices.
Bitcoin (BTC) to Surge Following Bitcoin Halving Event
According to CoinCodex, Bitcoin (BTC) may surge following its Bitcoin halving event. The platform predicts that BTC will recapture its all-time high later this month, reaching $74,211 on April 24, 2024. Hitting $74,211 from current levels would be a 16.7% increase.
Furthermore, CoinCodex expects BTC to continue rising over the following weeks, exceeding $84,000 by mid-May. The platform estimates that BTC will reach $84,406 on April 14, 2024. Reaching $84,406 would be a 32.7% increase over current levels.
Changelly also forecasts an optimistic future for Bitcoin (BTC), estimating it would reach $76,486 by April 27, 2024. Furthermore, the site expects BTC to reach $83,826 on May 12, 2024.
Another positive development for Bitcoin is Hong Kong’s recent approval of Ethereum and Bitcoin spot ETF (Exchange Traded Fund) applications. BTC reached an all-time high of $73,737 in March, boosted by the US Securities and Exchange Commission’s (SEC) approval of 11 spot BTC ETFs. A similar pattern could emerge from the Hong Kong ETH and BTC ETFs.