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BlackRock Sells $124M Bitcoin as ETF Outflows Surge, U.S. Rumored to Sell $6.5B
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BlackRock Sells 1,320 Bitcoin for $124 Million, Now Holds 551,076 Bitcoin
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BlackRock has sold 1,320 Bitcoin, representing a $124 million transaction, marking the third-largest outflow since the launch of its Bitcoin ETF a year ago. The ETF has seen additional withdrawals totaling $583 million, the second-largest outflow in its history. Despite this, BlackRock's IBIT currently holds 551,076 Bitcoin, accounting for nearly 3% of the total Bitcoin supply. Bitcoin ETFs have experienced record outflows recently, reflecting investor sentiment and market turbulence. Rumors also suggest the U.S. government may have sold $6.5 billion worth of Bitcoin. Meanwhile, Bitcoin's price has risen by 0.5%.