[NEWS] BlackRock's Bitcoin holdings surpass MicroStrategy

It has been revealed that the amount of Bitcoin (BTC) held by the iShares Bitcoin Trust (IBIT), a Bitcoin spot ETF by US asset management company BlackRock, has surpassed that of US business intelligence company MicroStrategy.

This was revealed by data from overseas cryptocurrency exchange BitMEX and other sources.

MicroStrategy is known for holding the largest amount of Bitcoin as a single company. Its holdings are 193,000 BTC, and on the 5th of this month it announced it would raise $600 million (approximately 88 billion yen) to purchase additional Bitcoin. It later revealed that it would increase the amount of funding to $700 million (approximately 103 billion yen).

On the other hand, BlackRock's holdings of Bitcoin amounted to approximately 196,065 BTC as of the 8th. As demand for IBIT increases, it is expected that the amount of Bitcoin held will continue to increase.

The amount of Bitcoin held by the 10 Bitcoin spot ETFs excluding Grayscale also reached an all-time high. Until now, the amount of Bitcoin held by Grayscale exceeded the amount held by the other 10 Bitcoin spot ETFs by a single company.

BlackRock is driving the increase in Bitcoin holdings, and is expected to continue to lead the way.

Bitcoin Surpasses $70,000

Bitcoin has surpassed $70,000 (approximately 10.28 million yen) for the first time in history, driven by increased demand from institutional investors.

Although the price has since fallen, it has recovered during Asian hours on the 11th. At the time of writing, it has continued to rise significantly and is hovering around $71,300 (approximately 10.47 million yen).

In addition, altcoins are also rising in price in tandem with Bitcoin. Ethereum (ETH) has also surpassed the 4,000 dollar mark (approximately 587,000 yen).

As for Ethereum, there are hopes for the approval of a spot ETF, just like the Bitcoin spot ETF, and expectations for the major upgrade "Dencun" scheduled for the 13th are also likely to be influencing the price.

Reference: BitMEX
Image: Shutterstock

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