BlackRock doubles down on Bitcoin with a 5% stake in Strategy
February 7, 2025
- Bitcoin failed to rally as BlackRock increased its stake in Strategy (formerly MicroStrategy), according to a filing with the SEC.
- The asset manager now holds 11.2 million shares of Strategy’s stock, commanding a 5% ownership of the company.
- BlackRock could be aiming to indirectly leverage Strategy’s Bitcoin buying tactic to expand its BTC exposure.
Bitcoin (BTC) is trading near $96,000 on Friday following asset manager BlackRock increasing its ownership stake in Strategy (formerly MicroStrategy) to 5%. The move indirectly expands BlackRock’s exposure in the top digital asset as Strategy is the world’s largest corporate Bitcoin holder.
BlackRock, which manages more than $11.6 trillion in assets, disclosed in a Thursday filing with the Securities & Exchange Commission (SEC) that it expanded its stake in Strategy (formerly MicroStrategy) to 5%.
The filing reveals that BlackRock now owns 11.2 million shares of Strategy’s common stock, up from 9.4 million in September, according to data from Yahoo Finance.
The additional purchase comes as Strategy rebranded from MicroStrategy in a bid to emphasize its “focus and broad appeal.” This includes its playbook of issuing debts and raising funds to acquire Bitcoin and a new logo that captures the BTC symbol.
The additional purchase could imply that BlackRock may want to leverage Strategy’s shares to indirectly expand its BTC exposure — even though it already has a large BTC holding through the iShares Bitcoin Trust (IBIT).
BlackRock’s iShares Bitcoin Trust fund (IBIT) is the largest Bitcoin-based product, worth $56 billion and commanding a market share of 48%, per Dune analytics data.
Meanwhile, Strategy paused its 12-week aggressive Bitcoin buying spree last week after purchasing 218,887 BTC for over $20 billion between October and January, solidifying its position among corporate Bitcoin holders.
Strategy now holds 471,107 BTC worth over $46 billion. The company intends to resume its Bitcoin purchases as part of its 21/21 plan to raise $42 billion within three years to increase its BTC holdings.
Despite its BTC gains, Strategy recorded a 3% YoY revenue decline to $120 million and a net loss of $670 million in Q4 2024.
Share:
Cryptos feed
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Search
RECENT PRESS RELEASES
