Tectono Business Review: VANGUARD GROUP INCREASES STAKE IN BITCOIN MINING TO $500M

Tuesday 11 July 2023

VANGUARD GROUP INCREASES STAKE IN BITCOIN MINING TO $500M

The Vanguard Group, Inc., an American registered investment advisor domiciled in Malvern, Pennsylvania, with about $7.7 trillion in global assets under management, purchased more stocks from two Bitcoin mining companies.

This largest provider of mutual funds and the second-largest provider of exchange-traded funds in the world has increasing its stake in the industry to over $500M with knew stocks in Riot Platforms and Marathon Digital.

This Vanguard Group’s enlarged stake in the cryptocurrency industry to over $500M dramatizes a remarkable switch in the company’s viewpoint towards digital currencies.

According to analysts, the snowballing interest from major financial institutions, including BlackRock, implies that Bitcoin and the cryptocurrency world could be set for an outstanding period of growth and development in the coming years.

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Tuesday 11 July 2023

VANGUARD GROUP INCREASES STAKE IN BITCOIN MINING TO $500M

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