BlackRock, the world’s largest asset manager, disclosed in a Schedule 13G filing that it now owns over 5% of Strategy (formerly MicroStrategy), totaling approximately 11.2 million shares.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
2 mins read
The world’s largest asset manager BlackRock disclosed in its Schedule 13G filing that it nows more than 5% of MicroStrategy Inc (NASDAQ: MSTR), which rebranded to Strategy earlier this week. As a result, the asset manager now holds nearly 11.2 million shares of the Bitcoin holding firm as of date.
The filing shows that during the last quarter, BlackRock increased its firm’s holdings by 0.91% during the last quarter of 2024. By the quarter ending September 2024, Blackrock’s stake in MicroStrategy (now Strategy) was 4.09%, which has now surged to 5%.
Amid its repeated Bitcoin purchases, Strategy has served as a proxy bet for institutional players to gain access to Bitcoin BTC $80 723 24h volatility: 1.2% Market cap: $1.60 T Vol. 24h: $42.32 B . Over the past year, MSTR stock has returned 540% gains, more than thrice than what Bitcoin has delivered. Today, MSTR stock still continues to draw institutional interest.
On the other hand, BlackRock has also come up with its own regulated Bitcoin product i.e. the iShares Bitcoin Trust (IBIT) which has seen massive inflows since its inception in January 2024. Within its first year of launch, the net inflows for IBIT have crossed $40 billion making it among the most successful ETF launches in history.
Earlier this week, MicroStrategy announced that it would be rebranding to Strategy with its convertible preferred stock Strike STRK $0.13 24h volatility: 2.9% Market cap: $375.04 M Vol. 24h: $27.92 M , which made its debut on the Nasdaq on Thursday. TradingView data shows that STRK closed 2% higher with a trading volume exceeding 650,000 shares. The momentum has carried into pre-market trading, where the stock is up an additional 5%.
Source: TradingView
Strategy unveiled new performance metrics alongside its fourth-quarter earnings report released after markets closed on Wednesday.
Key among the new indicators is a target of $10 billion in Bitcoin (BTC) gains for 2025, with $1.24 billion achieved so far this year. Another metric is a Bitcoin yield goal of 15%, with a year-to-date yield currently at 2.9%
Source: Strategy
Following Strategy’s Bitcoin approach, several other corporate players have adopted the blueprint over the last year. Public-listed firms like Metaplanet and Semler Scientific have witnessed good appreciation for their stock price by adding Bitcoin to their balance sheets.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
