BlackRock and MicroStrategy Made Major Bitcoin Buys in 2024

Not to be outdone, MicroStrategy added $24 billion in Bitcoin to its holdings.

Over the past 10 weeks alone, MicroStrategy has purchased an impressive 197,780 BTC. Meanwhile, BlackRock’s iShares fund has acquired 122,184 BTC.

BlackRock and MicroStrategy Boost Bitcoin Confidence

The move by BlackRock is particularly noteworthy. As one of the most respected financial institutions in the world, BlackRock’s decision to scoop up Bitcoin is a clear signal that crypto is no longer just for niche investors. It’s now seen as a legitimate asset class, attracting the attention of institutional investors who were once hesitant.

With BlackRock’s iShares fund behind it, Bitcoin is gaining the kind of institutional backing that could pave the way for broader adoption and further validation within traditional financial markets.

MicroStrategy, on the other hand, has long been a strong advocate for Bitcoin. The company’s CEO, Michael Saylor, has made it clear that he views Bitcoin as the digital gold of the future. Over the years, MicroStrategy has accumulated a massive amount of Bitcoin, and this latest purchase is just another chapter in their bullish stance.

With nearly 200,000 BTC added in just 10 weeks, MicroStrategy is doubling down on its bet that Bitcoin will continue to rise in value, despite the market’s ups and downs.

So, what’s driving this massive buying spree? For one, the ongoing rise of Bitcoin’s adoption and recognition as a store of value continues to attract investors. BlackRock and MicroStrategy are not just speculating on Bitcoin—they’re betting that it will be a key part of the global financial landscape for years to come. Both companies see the growing demand for decentralized, digital assets and want to secure their place in this rapidly evolving market.

More About MicroStrategy

MicroStrategy has recently acquired an additional 2,530 BTC for approximately $243 million, purchasing at an average price of around $95,972 per Bitcoin. This brings the company’s total Bitcoin holdings to 450,000 BTC, which were acquired for a total of about $28.2 billion, with an average price of $62,691 per Bitcoin.

As of January 12, 2025, MicroStrategy has achieved a BTC yield of 0.32% year-to-date, continuing its strong commitment to Bitcoin as a core asset in its portfolio.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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