Key Takeaways
- BlackRock increased its stake in Strategy to 5%, per SEC filing.
- Strategy continues its $42B plan to acquire more Bitcoin despite a Q4 loss.
- BlackRock's Bitcoin ETF now controls 48.7% of U.S. spot Bitcoin ETF holdings.
BlackRock, the world’s largest asset manager with $11.6 trillion in AUM, has raised its stake in Michael Saylor’s Strategy to 5%, according to a Feb. 6 SEC filing.
The investment follows Strategy’s recent rebrand from MicroStrategy, reinforcing its focus on Bitcoin accumulation.
Market response
Following the news, Strategy’s stock price rose 2.8% in pre-market trading, reaching $325, according to Google Finance.
The company remains the largest corporate holder of Bitcoin, with 471,107 BTC worth approximately $48 billion.
Strategy’s Bitcoin expansion
Despite recording a $670 million net loss in Q4 2024, Strategy remains committed to its “21/21 Plan,” which aims to raise $42 billion over three years to buy more Bitcoin.
The firm has already secured $20 billion, primarily through convertible notes and debt financing.
BlackRock’s ETF growth
Meanwhile, BlackRock’s Bitcoin ETF has become the 31st-largest ETF globally, managing over $55.5 billion and controlling 48.7% of all U.S. spot Bitcoin ETF holdings, per Dune data.
U.S. Bitcoin adoption
Beyond institutional investments, Kentucky became the 16th U.S. state to propose a Bitcoin reserve bill, following similar moves in Illinois.
Lawmakers are increasingly debating Bitcoin’s classification in public reserves, with potential implications for federal regulations.
