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CDS Crypto News Asset Manager Vanguard Group’s $500 Million Investment in Bitcoin Mining Makes Headlines

Crypto News

Asset Manager Vanguard Group’s $500 Million Investment in Bitcoin Mining Makes Headlines

Asset manager Vanguard Group has made a major investment in Bitcoin mining.

lectertodd11/07/20231 Mins read851

Asset Manager Vanguard Group'S $500 Million Investment In Bitcoin Mining Makes Headlines

An important shift in thinking about cryptocurrencies can be seen in Vanguard Group‘s investment in Bitcoin mining, which brings its total holding to over $500 million.

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Asset Manager Vanguard Group’s $500 Million Investment in Bitcoin Mining Makes Headlines

Vanguard Group, an asset manager, has boosted its stake in Bitcoin mining firms, signaling a significant change in the company’s position on cryptocurrencies. Vanguard Group now owns more stock from Marathon Digital and Riot Platforms, bringing its total investment in the sector to over $500 million.

Vanguard Group’s Perspective on Crypto Changes

In just the past two years, Vanguard Group has deemed the long-term investment case for cryptocurrencies weak. The company’s attitude toward cryptocurrencies has, however, significantly changed, as evidenced by its most recent investments.

Institutional Interest in Crypto Increases

In a statement last week, Larry Fink, the CEO of BlackRock, the largest asset manager in the world with $9.5 trillion in assets under management, called Bitcoin an “international asset.” BlackRock, which is the second-largest shareholder in Marathon Digital with 8.6 million shares, also submitted an application to the SEC for a spot Bitcoin exchange-traded fund last month.

Sources:coincu

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lectertodd

Lectertodd is 28 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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