The massive investment firm BlackRock is poised to overtake MicroStrategy as the biggest Bitcoin holder.
According to industry expert Eric Balchunas, this prognosis is confirmed by BlackRock’s current Bitcoin purchasing rates.
Balchunas conceded that BlackRock’s dominance in the Bitcoin market was inevitable, albeit voicing some doubts regarding the speed of this progress. “Well spoken. Though I doubt it will occur so quickly, it will,” he wrote.
The top corporate holders of Bitcoin
Right now, a few major firms control the majority of the corporate Bitcoin holdings market. MicroStrategy, Inc. (MSTR) is in the lead with an enormous holding of 189,150 Bitcoins, worth over $8.12 billion.
MicroStrategy is closely followed by Marathon Digital Holdings (MARA) and Tesla, Inc. (TSLA), who now possess 13,726 and 9,720 Bitcoins, respectively.
Hut 8 Mining Corp (HUT), Block, Inc. (SQ), and Coinbase Global (COIN) are a few more well-known names.
The blockbuster launch of BlackRock’s Bitcoin ETF
CEO Larry Fink praised BlackRock’s successful Bitcoin ETF launch earlier this week, calling it “step one in the technological revolution in the financial markets.”
In just two days after it started trading on the Nasdaq, the BlackRock Spot Bitcoin ETF quickly amassed 11,439 Bitcoins, worth about $500 million.
This ETF not only represents a significant accomplishment for BlackRock, but it also shows how traditional financial organisations are becoming more and more interested in and accepting of cryptocurrencies.
Fink has bigger plans than just ETFs. He sees tokenization of actual assets as a possibility, which is a notion that is becoming more and more popular among blockchain enthusiasts.
