The world's largest asset manager spent $1 billion on Bitcoin just before the main cryptocurrency's sharp fall. The news was widely discussed in the crypto community.

According to the Arkham platform, the investment company purchased $1.5 billion worth of bitcoins last week. The organization spent $1 billion on almost 10,000 BTC shortly before the asset’s price fell from $107,000 to $103,000.

As of December 20, BlackRock owned more than 553,000 BTC, representing about 2.6% of the total Bitcoin supply.

According to the latest data from Fintel, BlackRock's total assets are estimated at $4.7 trillion. However, other sources estimate the company's reserves at more than $11 trillion. In any case, the share of Bitcoin in its portfolio is quite small. However, BlackRock's board of directors recently recommended increasing the share of BTC in its assets to 2%.

Interestingly, last week, market participants had another reason to discuss BlackRock's actions. On December 18, the company released a three-minute educational video about Bitcoin , which included the phrase "There is no guarantee that the 21 million BTC limit will not be changed."

Some experts have started talking about the fact that the restriction can actually be lifted with the help of a hard fork. If this happens and the flagship cryptocurrency is no longer in short supply, the price of the asset may fall significantly.