certify
Home arrow Article arrow Article Detail

BlackRock invests in Marathon and Riot, enters the BTC mining sector.

Profile Image

Pavan A Follow

INDIA

Aug, 21 2021

Aug, 21 2021

likes | comments 0

Article Image

Blackrock, the world’s largest asset manager with $9 trillion in assets, has made a total capital commitment in two bitcoin miners, by acquiring significant stakes in Marathon Digital Holdings (6.71%) and in Riot Blockchain (6.61%).

This disclosure comes after SEC filings on June 30, which revealed that BlackRock's investment of around $382 million of shares in Bitcoin mining firms. This comes after Fidelity Group recently revealed its large stakes in the bitcoin miners. 

The world’s largest asset manager has purchased nearly $207 million worth of Marathon and $176 million worth of Riot through some of its mutual funds and exchange-traded funds.

The investment in BTC related companies comes after BTC is up by roughly 288% over the past 12 months and because of the popularity of Bitcoin mining stocks as institutional investors are getting exposed to the crypto markets in the United States

While the Bitcoin prices continue to rise over the last 12 months, both companies’ stock rise, and fall in the price are on par with the performance of BTC. Marathon’s stock has surged 754% and Riot has gained 848%.

In recent months, top firms like Fidelity Group and Vanguard Group have been investing heavily in their cryptocurrency arm and getting exposure to the mining sector.


likes | comments 0

Profile Image

Pavan A

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
India's money laundering act now applies to variety of crypto operations

Prevention of Money-Laundering Act (PLMA) of 2002 now applies to a variety of cryptocurrency operations, including the exchange, transfers, custody, and administration of virtual assets..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.