BlackRock’s Bitcoin holdings surpass 200,000 in the race with MicroStrategy - CryptoCrazeNews

BlackRock’s Bitcoin holdings surpass 200,000 in the race with MicroStrategy

BlackRock’s Bitcoin holdings surpass 200,000 in the race with MicroStrategy

BlackRock’s Bitcoin holdings surpass 200,000 in the race with MicroStrategy

The recent update from the giant asset management firm BlackRock regarding its iShares Bitcoin Trust has garnered everyone’s attention. As of March 11, 2024, BlackRock’s IBIT Bitcoin holdings exceeded 200,000, reaching 203,754.8 with a market value of over $14.76 billion. Meanwhile, on March 11, 2024, the business intelligence firm MicroStrategy also revealed that it had purchased a massive 12,000 Bitcoin, increasing its holdings to 205,000 Bitcoin. 

Who is the largest Bitcoin Holder?

With this massive Bitcoin holding, BlackRock and MicroStrategy are the only two largest corporate Bitcoin holders with more than 200,000 Bitcoin. It has also been observed that BlackRock is continuously adding Bitcoin. Earlier when the holding was disclosed, BlackRock’s Holding was 196,089. 

This massive purchase highlights BlackRock’s interest since day one of Bitcoin ETF trading. BlackRock has continuously added Bitcoin to its holdings regardless of the Bitcoin price. Following Bitcoin ETF trading, BlackRock is the only asset management firm that made the largest purchase on day 37, when the company added 12,623 Bitcoins. In contrast, the smallest Bitcoin purchase was on day 18 when BlackRock added 1,048 Bitcoins. 

The continuous accumulation of Bitcoin by this asset management giant highlights the demand and interest of both investors and retailers in the world’s largest cryptocurrency. However, since the approval of the spot Bitcoin ETF in the United States, the Bitcoin price has surged by more than 50%. 

Bitcoin price performance analysis 

Amidst this, Bitcoin reached a new all-time high of $73,095 on March 12, 2024, and a low of $38,554 on January 23, 2024. Currently, Bitcoin is trading near $70,500, and in the last 24 hours, it experienced a price fall of over 2.5%. If we look at Bitcoin over a longer period, in the last 7 days, Bitcoin experienced a price surge of over 8%, whereas, in the last 30 days, its price surged more than 40%.

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