⚠️ Vanguard_Group has increased its stake in RiotPlatforms to over 10%! What is the asset manager's total stake in Bitcoin mining firms, and how many shares does it own? Read more here -
The $7 trillion asset management giant Vanguard Group now owns a 10.24% stake in Riot Blockchain – the world’s largest Bitcoin mining company.with the Securities and Exchange Commission on Monday showed that Vanguard has upped its exposure to the firm from 15.2 million shares to 17.9 million.The company also bought millions of shares in competing firm Marathon Digital, increasing its holdings from 10.9 million shares to 17.5 million.
Both Riot and Marathon are up roughly 400% year to date, mimicking the trajectory of other mining firms, andtens of millions of dollars into expanding mining infrastructure capacity this year in preparation for Bitcoin’s “halving” next year, which is widely believed to catalyze Bitcoin bull markets.that the investment potential in cryptocurrencies is “weak”, yet its half-a-billion dollar stake in the mining industry may indicate a change of heart.
Fellow asset manager BlackRock has also grown more fond of the industry with time. Once a skeptic, CEO Larry Fink Bitcoin to “digital gold” earlier this month, shortly after his firm applied to launch the first Bitcoin spot ETF in the United States.
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