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.
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.
Leave a comment