According to the filing on 6 February with the US Securities and Exchange Commission, Blackrock has made its stake in the strategy (earlier microstrate) to 5%.
Business – Union Now wears About 11.2 million shares, above 4.09% in September 2024. After disclosure, the stock’s stock increased by 2.8% in pre-market trading, reaching $ 331.90 per share.
The strategy is the largest corporate holder of Bitcoin (BTC), with 471,107 BTC priced around $ 48 billion.
Despite reporting a net loss of $ 670 million in Q4 2024, the company continues to pursue its “21/21 scheme”, aimed at raising $ 42 billion for additional bitcoin purchases. So far, it has achieved $ 20 billion through debt and equity financing.
The strategy recently rejected the world’s largest bitcoin treasury company as part of its strategy to strengthen its position.
Blackrock and bitcoin
Blackrock is preparing to launch its first bitcoin exchange-traded product in Europe, the Fund is expected to be based in Switzerland after the success of its $ 58 billion bitcoin ETF in the US, with marketing starting from this month.
The asset manager has greatly expanded his participation with bitcoin. In January 2024, the firm launched the Ishras Bitcoin Trust, a spot bitcoin exchange-traded fund, which has since become the largest of its kind, which is more than $ 50 billion in the property.
Blackrock’s CEO, Larry Fink, has shifted from skepticism to support for bitcoin, cited as a hedge against currency devaluation and a valuable property in investors’ portfolio. The firm recommends a minor allocation of 1% to 2% in bitcoin to catch diversification benefits without rising risk.
