Grayscale’s 4K Bitcoin Transfer, Blackrock CEO Favorable on Bitcoin, Ripple’s XRP Ousted, and More — Week in Review

Grayscale’s 4K Bitcoin Transfer, Blackrock CEO Favorable on Bitcoin, Ripple’s XRP Ousted, and More — Week in Review

Grayscale stirred speculation by transferring 4,000 bitcoins, while Blackrock CEO Larry Fink endorsed bitcoin as “digital gold,” surpassing government influence. In regulatory news, Ripple’s XRP was removed from Hong Kong Virtual Asset Consortium’s top crypto index. Meanwhile, Elon Musk reaffirmed his commitment to Dogecoin, along with revealing that his company Spacex holds a substantial amount of bitcoin.

Grayscale’s 4,000 Bitcoin Transfer Worth $175M Stirs Speculation

Recent blockchain analytics reveal that 4,000 bitcoins, valued at approximately $175 million, have been transferred from addresses believed to be controlled by Grayscale’s Bitcoin Trust, commonly referred to as GBTC.

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Blackrock CEO Larry Fink on Bitcoin: I’m a Big Believer

Larry Fink, the CEO of Blackrock, the world’s largest asset manager, says he has become “a big believer” in bitcoin, emphasizing that it is “bigger than any government.” Calling the cryptocurrency “digital gold,” the executive stressed: “Unlike gold, where we manufacture new gold, we’re almost at the ceiling of the most of the amount of bitcoin that could be created.”

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Ripple’s XRP Ousted From Hong Kong Top Crypto Index

As Hong Kong strengthens its crypto regulatory framework and embraces ETFs, the Hong Kong Virtual Asset Consortium (HKVAC) has updated its top crypto indexes, showing a preference for tokens with market performance and growing industry partnerships.

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Elon Musk Still Owns Dogecoin — Spacex Owns Bitcoin

Tesla CEO and Spacex chief Elon Musk has revealed that he still owns “a bunch of dogecoin,” affirming his commitment to keep buying and supporting the meme cryptocurrency. Musk additionally revealed that his company Spacex still owns “a bunch of bitcoin.”

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Do you think the bulk of GBTC bitcoin reallocation is done, or is there more selling into other spot bitcoin ETFs to come? Share your thoughts and opinions about this subject in the comments section below.