Investing giant BlackRock is on track to overtake MicroStrategy as the largest holder of Bitcoin.
Investing giant BlackRock is on track to overtake MicroStrategy as the largest holder of Bitcoin.
This prediction, based on BlackRock’s current Bitcoin acquisition rates, has been supported by industry analyst Eric Balchunas.
Balchunas, while expressing some skepticism about the pace of this development, acknowledged the inevitability of BlackRock’s rise in the Bitcoin space. “Good point. I doubt it will happen that quickly, but it will happen,” he said. wrote.
Major Corporate Bitcoin Holders
As of now, the landscape of corporate Bitcoin holdings is dominated by several key players. Leading the pack is MicroStrategy, Inc. (MSTR), with a huge holding of 189,150 Bitcoins, valued at approximately $8.12 billion.
Marathon Digital Holdings (MARA) and Tesla, Inc. (TSLA), with 13,726 and 9,720 Bitcoins respectively, follow MicroStrategy closely.
Other notable names include Coinbase Global (COIN), Hut 8 Mining Corp (HUT), and Block, Inc. (SQ).
The successful launch of BlackRock’s Bitcoin ETF
Earlier this week, BlackRock successfully launched its Bitcoin ETF, a move hailed by CEO Larry Fink as “the first step in the technological revolution in financial markets.”
The BlackRock Spot Bitcoin ETF, which began trading on the Nasdaq, quickly acquired 11,439 Bitcoins, valued at nearly $500 million, in just two days.
This ETF not only marks an important milestone for BlackRock, but also reflects the growing interest and acceptance of cryptocurrencies among traditional financial institutions.
Fink’s vision extends beyond ETFs, with an eye toward the potential tokenization of real-world assets, a concept that is gaining traction among those interested in blockchain technology.
