BlackRock’s Strategy Equity Stake Risen To 5%
BlackRock, which oversees assets worth over $11 trillion, revealed in a filing with the Securities and Exchange Commission (SEC) that it increased its ownership of Strategy (formerly MicroStrategy) to 5%.
The world’s largest asset fund manager now owns 11.2 million shares of Strategy’s common stock, up from 9.4 million units.
Strategy rebranded from MicroStrategy to highlight its “focus and broad appeal,” which coincided with the additional acquisition.
This includes its strategy of issuing debts, raising money to buy Bitcoin, and creating a new logo that incorporates the BTC symbol. The additional acquisition might suggest that, despite having a sizable BTC holding through the iShares Bitcoin Trust (IBIT),
According to Dune analytics, BlackRock’s iShares Bitcoin Trust fund (IBIT), valued at $56 billion and holding a 48 percent market share, is the biggest Bitcoin-based product.
Strategy halted its 12-week aggressive Bitcoin buying spree last week after securing its place among corporate Bitcoin holders by acquiring 218,887 BTC for more than $20 billion between October and January. With 471,107 BTC, Strategy currently has more than $46 billion. The company plans to resume its purchases as part of its 21/21 plan to raise $42 billion in three years to increase its holdings of Bitcoin,
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