Friday, in a recent update, Abu Dhabi revealed a massive participation of $ 436.9 million in Ishares Bitcoin Etf de Blackrock (IBIT) on December 31, 2024. The investment was made via Mubadala Investments, one Sovereign funds of the country, according to a fund of sovereign wealth of the country, according to a fund of sovereign wealth of the country, according to a 13F deposit With the dry. The company makes investments on behalf of the government of Abu Dhabi, which is capital of the United Arab Emirates.
Bitcoin reacts to news
In response, the Bitcoin price jumped approximately 1%, reaching $ 97,700, after the news. In particular, the purchase follows BlackRock obtaining a commercial license to operate in Abu Dhabi last November. Blackrock manages the largest Bitcoin ETF spot, with almost $ 56 billion in active ingredients. In particular, the investment represents one of the first allocations known to cryptographic assets by a large sovereign fund.
Although this can be one of the largest cryptographic investments in Abu Dhabi, but it is not the city’s first passage in digital assets. In 2023, Abu Dhabi also invested in Bitcoin Mining, with Digital Marathon and Zero Two announcing plans for a major mining complex in the city. Besides, the former CEO of Binance, Changpeng Zhao, has implicit This other SWFS based in Abu Dhabi could follow suit.
The purchase of Abu Dhabi for the benefit?
Bitcoin Advocate Anthony Poseliano believes that the purchase of Abu Dhabi will benefit from the American strategic reserve initiative. “Abu Dhabi’s sovereign fund has just revealed that they are buying hundreds of millions of dollars in Bitcoin and that people still think that the United States will not buy Bitcoin. The Bitcoin Strategic Reserve occurs, ”noted Anthony Poseliano on social networks.
In addition, Poseliano stressed that the largest sovereign fund in the world is now investing in Bitcoin, stressing that there are only 21 million bitcoins available. “I wonder what is going on now that the nation states are there,” he shared.
This decision is aligned with the broader trend of the increased adoption of cryptography in the Middle East, where governments and financial institutions are showing greater interest in blockchain and digital assets.
Wisconsin increases its participation in Ibit
In addition, the State of Wisconsin Investment Board (SWIB) increased its participation in Ishares Bitcoin Trust (IBIT) of BlackRock by adding more than 3 million shares, bringing its total to 6 million shares of one more value From $ 321 million to December 31, 2024, according to 6 to a recent dry deposit. Notaby, the board of directors of Wisconsin diversified its investments related to the crypto beyond Ibit, with Coinbase issues, Mara Holdings, Robinhood and Block Inc.