BlackRock Acquires $6.1 Million in MicroStrategy Shares
CryptoNewsTerminal Staff03 Jun, 2024
BlackRock Acquires $6.1 Million in MicroStrategy Shares
BlackRock, the world's largest asset manager, has acquired approximately $6.1 million worth of MicroStrategy (MSTR) shares. This acquisition is a significant development in the cryptocurrency and financial markets, as it signals growing institutional interest in the digital asset space. According to CryptoSlate, the purchase was made through BlackRock's iShares MSCI ACWI ETF, which tracks the performance of a global index of large-cap stocks. The addition of MicroStrategy to the MSCI ACWI Index on January 31st of this year likely influenced the purchase decision. This acquisition highlights the growing acceptance and recognition of digital assets by traditional financial institutions. BlackRock's involvement in the cryptocurrency market is expected to further legitimize the industry and attract additional institutional investors. It also underscores MicroStrategy's position as a leader in the cryptocurrency adoption movement among publicly traded companies. Overall, BlackRock's purchase of MicroStrategy shares is a positive sign for the cryptocurrency market and is likely to have a positive impact on the broader adoption and acceptance of digital assets.
