Categories: MarketsMenafn

Analyst Forecasts BlackRock to Emerge as Largest Bitcoin Holder

According to industry analyst Eric Balchunas, BlackRock is poised to surpass MicroStrategy as the primary holder of Bitcoin.

Balchunas, though expressing reservations about the rapidity of this shift, conceded the inevitable ascendancy of BlackRock in the BTC domain.

https://twitter.com/EricBalchunas/status/1746529575817908294?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener

MicroStrategy Leads Corporate Bitcoin Holdings

As of the latest data, corporate BTC holdings are currently dominated by MicroStrategy, Inc. (MSTR), leading with a substantial holding of 189,150 Bitcoins valued at approximately $8.12 billion. Marathon Digital Holdings (MARA) and Tesla, Inc. (TSLA) trail closely, holding 13,726 and 9,720 BTCs, respectively.

Notable participants in the corporate Bitcoin holdings landscape also include Coinbase Global (COIN), Hut 8 Mining Corp (HUT), and Block, Inc. (SQ). The recent introduction of BlackRock’s BTC ETF has added a new dynamic to this arena.

The BlackRock Spot Bitcoin ETF, which debuted on the Nasdaq, swiftly acquired 11,439 Bitcoins valued at nearly $500 million within a mere two days.

BlackRock’s CEO Larry Fink hailed the launch as “step one in the technological revolution in the financial markets.” The success of this ETF not only signifies a milestone for BlackRock but also underscores the increasing interest and acceptance of cryptocurrencies within traditional financial institutions.

Fink’s vision extends beyond ETFs, focusing on the potential tokenization of real-world assets, a concept gaining traction among proponents of blockchain technology.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

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