Investment Giant Strengthens Position as BTC Approaches $100,000.
According to data from cryptocurrency market intelligence firm Arkham, BlackRock, the world’s largest asset manager with over $11 trillion under management, purchased $2.5 billion worth of Bitcoin last week. This significant investment comes as BlackRock CEO Larry Fink suggests that Bitcoin may eventually become the world’s reserve currency, replacing the US dollar. Meanwhile, publicly traded mining company Riot Platforms sold 475 BTC in April, reducing its cryptocurrency holdings. These divergent actions by major players are occurring at a time when Bitcoin is trading around $97,238, approaching the psychologically important $100,000 level.
BlackRock’s Strategic Bet: From Skepticism to Major Investments
The $2.5 billion Bitcoin purchase represents a significant expansion of BlackRock’s cryptocurrency positions, a company that just a few years ago approached digital assets with skepticism. This move confirms a radical shift in traditional financial institutions’ attitudes toward cryptocurrencies in general and Bitcoin in particular.
In his annual letter to investors, BlackRock CEO Larry Fink expressed concerns about the long-term sustainability of the US dollar as the world’s reserve currency and pointed to Bitcoin as a potential alternative:
“The US has benefited from the dollar serving as the world’s reserve currency for decades. But that’s not guaranteed to last forever. The national debt has grown at three times the pace of GDP since Times Square’s debt clock started ticking in 1989. This year, interest payments will surpass $952 billion – exceeding defense spending.
By 2030, mandatory government spending and debt service will consume all federal revenue, creating a permanent deficit. If the US doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin.”
“Fink’s position represents a radical rethinking of cryptocurrencies’ role in the global financial system,” comments Elena Kovaleva, Senior Digital Asset Analyst at Digital Asset Research. “When the head of the world’s largest asset management company talks about the possibility of Bitcoin replacing the dollar, it signals a serious shift in how institutional investors perceive cryptocurrencies.”
BlackRock has already established itself as a key institutional player in the cryptocurrency market after launching a spot Bitcoin ETF in January 2025. Their IBIT fund attracted billions of dollars in the first months of trading, significantly outperforming most competitors. However, the direct purchase of $2.5 billion in Bitcoin represents an even bolder step, demonstrating the company’s confidence in the long-term potential of the first cryptocurrency.
Institutional Adaptation Amid Diverging Strategies
BlackRock’s massive Bitcoin purchase comes at a time when other major players are demonstrating different approaches to cryptocurrency investment. According to Arkham data, mining company Riot Platforms sold 475 BTC in April for $38.8 million, transferring these bitcoins to the NYDIG platform. Moreover, the company appears to be continuing to reduce its reserves, moving more bitcoins worth $6.7 million to NYDIG in early May.
After these sales, Riot Platforms’ portfolio decreased to approximately 6,611 BTC, worth about $642 million at current prices.
“The divergent actions of BlackRock and Riot Platforms illustrate different strategic approaches to Bitcoin in 2025,” explains Alexander Petrov, Head of Cryptocurrency Research at consulting firm Blockchain Advisors. “While BlackRock is positioning itself for a long-term play related to a potential shift in the monetary paradigm, mining companies are forced to balance between accumulating BTC and the need to fund operational expenses and investments in new equipment.”
Riot Platforms’ sales don’t necessarily indicate a bearish outlook on Bitcoin. Mining companies regularly liquidate part of their reserves to cover operational expenses, especially in anticipation of equipment upgrades or capacity expansions. Moreover, with Bitcoin’s halving approaching in 2026, many miners may be looking for ways to increase the efficiency of their operations, which requires significant capital investment.
Macroeconomic Context and Bitcoin Prospects
Larry Fink’s statements about the US dollar potentially losing its status as the world’s reserve currency reflect growing concerns about US fiscal policy and the sustainability of the traditional financial system. The US national debt exceeded $37 trillion in early 2025, and interest payments on this debt reached historic highs.
“We’re observing an unprecedented situation where the largest institutional investors are openly talking about systemic risks to the US dollar,” notes Sergei Volkov, economist and author of “Digital Capital: A New Paradigm.” “The $2.5 billion Bitcoin purchase is not just a speculative investment, but a strategic hedge against potential instability in the traditional financial system.”
At the time of writing, Bitcoin is trading at $97,238, maintaining relative stability over the past few weeks. Approaching the psychologically important $100,000 mark is viewed by many analysts as a key moment that could determine the market’s further dynamics.
“The question isn’t whether Bitcoin will surpass the $100,000 mark, but what happens afterward,” believes Maria Ivanova, technical analyst of the cryptocurrency market. “We could see either a sharp spike in volatility and further growth, or profit-taking by major players. However, the long-term trend, supported by institutional interest such as BlackRock’s investment, remains upward.”
Regardless of short-term price fluctuations, BlackRock’s $2.5 billion investment represents a significant confirmation of the thesis about Bitcoin’s institutional adaptation and its growing role in the global financial system. Larry Fink’s opinion on Bitcoin’s potential to replace the US dollar as the world’s reserve currency, though controversial, signals a fundamental shift in how financial elites perceive cryptocurrencies.