The numbers game has begun. BlackRock is silently amassing massive amounts of BTC through its ETF, potentially surpassing Satoshi Nakamoto's legendary stash. This unprecedented scenario could reshape the market dynamics and its future.
With now more than 702,000 bitcoins in its portfolio, BlackRock has quickly surpassed historical heavyweights like MicroStrategy and Binance. Its accumulation has accelerated since the successful launch of its Bitcoin spot ETF, the iShares Bitcoin Trust (IBIT), in January 2024. This fund has indeed become the best-performing in terms of volume and net inflows, reaching $76 billion in assets under management.
This latest acquisition by BlackRock comes amid strong demand for Bitcoin, particularly through spot ETFs. Net inflows into these funds have exceeded $211 million, fueled by Bitcoin’s recent rally to a new all-time high of $111,970 on July 9.
The price even reached $116,000 on July 10. This increase of nearly 12.5% from the month’s low reinforces the bullish sentiment among institutional investors.
Beyond BlackRock and ETFs, many other major players are also strengthening their positions in Bitcoin. This includes MicroStrategy, which continues its purchases consistently. Also worth mentioning is the Japanese company Metaplanet, which aims to become one of the largest holders by 2027.
More broadly, an increasing number of companies are turning to Bitcoin as a strategic store of value, allocating millions to bolster their portfolios. This trend underscores the growing confidence of institutional investors in the long-term potential of cryptocurrency.
In conclusion, the continuous accumulation of BTC by giants like BlackRock not only demonstrates the vitality of the market but also its increasing legitimacy within the traditional financial sector.
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