BlackRock’s Bitcoin exchange-traded fund (ETF) has surpassed MicroStrategy’s cryptocurrency holdings, according to data from BitMEX Research. BlackRock’s IBIT currently holds 197,943 Bitcoin, valued at over $13.5 billion as of March 8. This comes after the Securities and Exchange Commission approved nine new funds on January 10. Excluding Grayscale’s GBTC, the newly launched Bitcoin ETFs collectively hold assets worth $28 billion, driven by institutional demand. On March 8, the price of Bitcoin crossed the $70,000 mark for the first time. Reports suggest that over-the-counter trading platforms are running out of Bitcoin and turning to public exchanges to fulfill orders. Meanwhile, MicroStrategy, although not an ETF issuer, has amassed a portfolio of 193,000 BTC as part of its corporate treasury strategy. The company recently announced plans for a debt offering to raise over $600 million to strengthen its Bitcoin reserves. MicroStrategy’s Bitcoin-centric strategy has led to a 642% increase in its stock price over the last year, outperforming Bitcoin’s 244% gains. CEO Michael Saylor has stated that the company has no plans to sell its Bitcoin reserves, considering Bitcoin as the ultimate exit strategy. Saylor believes that Bitcoin is technically superior to gold, the S&P 500, and real estate, despite their larger market capitalizations.
BlackRock's Bitcoin ETF Surpasses MicroStrategy in BTC Holdings