BlackRock's iShares Bitcoin Fund Now Holds More Than MicroStrategy

IconCrypto News Terminal22 Apr, 2024

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BlackRock's iShares Bitcoin Fund Now Holds More Than MicroStrategy

BlackRock's iShares Blockchain and Tech ETF (IBIT) now holds 273,596 Bitcoin (BTC), surpassing MicroStrategy's (MSTR) holdings by approximately 60,000 BTC. The fund's BTC holdings are now worth about $18 billion at current prices. BlackRock's increasing investment in Bitcoin highlights the growing institutional adoption of cryptocurrencies. Jay Jacobs, BlackRock's head of active ETFs, recently stated that "Bitcoin is the most widely adopted crypto asset and many see it as more than just a payment mechanism." Previously on April 22, 2024, iShares Blockchain and Tech ETF (IBIT) held 273,596 BTC, worth about $18 billion at the time.