News

BlackRock Bitcoin Holdings Exceeds 200,000 BTC Milestone

Key Points:

BlackRock Bitcoin holdings surpass 203,000 Bitcoins valued at $14.76 billion, marking a significant presence in the market.
MicroStrategy, led by Michael Saylor, surpasses BlackRock’s holdings with 205,000 BTC after acquiring an additional 12,000 bitcoins.
Institutional demand drives Bitcoin’s price to over $72,000 as newly launched Bitcoin ETFs hold $28 billion in assets.

BlackRock’s spot Bitcoin exchange-traded fund, IBIT, recently updated its Bitcoin holdings data, revealing a total of 203,754.8 Bitcoins as of March 11, valued at around $14.76 billion. This places BlackRock among the major institutional players in the cryptocurrency market.

BlackRock Bitcoin Holdings Exceeds 200,000 Mark, Valued at $14.76 Billion

Meanwhile, MicroStrategy, led by Michael Saylor, has been aggressively increasing its bitcoin holdings. In its latest acquisition spree from Feb. 26 to Mar. 10, MicroStrategy purchased an additional 12,000 Bitcoins for approximately $821.7 million, bringing its total holdings to 205,000 BTC. This surpasses BlackRock Bitcoin holdings, establishing MicroStrategy as a formidable presence in the crypto space.

MicroStrategy funded its latest purchase using $781.1 million from a recent private offering of convertible senior notes alongside $40.6 million in excess cash.

Institutional Demand Propels Bitcoin’s Price Beyond $72,000

Together with BlackRock Bitcoin holdings, MicroStrategy’s acquisition signals the growing influence of corporate entities in the cryptocurrency market. Institutional demand for Bitcoin continues to rise, as evidenced by the collective assets of newly launched Bitcoin ETFs, which now amount to $28 billion. Grayscale’s GBTC remains a notable player, holding around 400,000 tokens.

The bullish sentiment in the cryptocurrency market was further underscored on March 8, when Bitcoin’s price surged past the $72,000 mark for the first time.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.