Key Points:
- MicroStrategy’s Bitcoin stockpile exceeds 1% of the total supply, yet it pales in comparison to the combined Bitcoin investments of BlackRock and Fidelity.
- BlackRock’s Bitcoin ETF continues to shatter records with an unprecedented 71-day streak of inflows, Fidelity’s Bitcoin fund secures the second position in the rankings.
Most recently, it has been revealed that MicroStrategy, a company well-known for its significant Bitcoin investments, falls behind industry giants BlackRock and Fidelity in terms of Bitcoin holdings. While MicroStrategy has amassed a substantial amount of Bitcoin, exceeding 1% of the total issuance, BlackRock and Fidelity jointly possess an impressive 428,304 Bitcoins, valued at approximately $27.7 billion, through their spot Bitcoin exchange-traded funds (ETFs). This figure dwarfs MicroStrategy’s holdings by over 214,000 Bitcoins, equating to twice as much cryptocurrency.
The growth of BlackRock’s Bitcoin ETF has been relentless, with the fund witnessing an unprecedented 71 consecutive days of inflows. Fidelity’s Bitcoin fund is not far behind, boasting over $10 billion in assets under management, trailing only BlackRock’s iShares Bitcoin Trust (IBIT), which has more than $18 billion in assets.
MicroStrategy, led by Chairman Michael Saylor, began its Bitcoin acquisitions in 2020 as a hedge against inflation and an alternative to traditional cash reserves. Currently, the company holds 214,246 Bitcoins, valued at around $14 billion. It is worth noting that Bitcoin’s maximum issuance is capped at 21 million, with close to 19.7 million tokens already in circulation, expected to reach the cap by 2140.
A significant portion of MicroStrategy’s Bitcoin purchases took place in 2024, with their average cost exceeding double that of the previous year. Meanwhile, Michael Saylor took advantage of MicroStrategy’s increasing value by implementing a pre-planned stock-sale arrangement, resulting in approximately $370 million in earnings from sales in 2024.
While MicroStrategy has made considerable strides in its Bitcoin investments, the recent comparison to BlackRock and Fidelity showcases the dominance of these industry giants in the cryptocurrency realm. As the cryptocurrency market continues to evolve and grow, it will be interesting to see how these companies navigate their investments and capitalize on the potential of Bitcoin and other digital assets.
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