Here are some quotes on BlackRock’s investment in MicroStrategy and cryptocurrency:

1. “BlackRock Inc. has filed an SC 13G/A form… disclosing ownership of 1,023,418 shares of MicroStrategy… representing 7.5 percent ownership.” This reflects a growth in their stake over time, with the latest increase noted in early 2024 .

2. “BlackRock owns a 5.53 percent stake in Michael Saylor-led MicroStrategy, which owns the largest amount of BTC of any company. BlackRock is MicroStrategy’s largest shareholder,” marking a significant position in Bitcoin indirectly  .

3. “BlackRock… with over $9.5 trillion under management, is regarded as a leader in the future of investing,” and is increasingly making moves toward cryptocurrency and blockchain .

These quotes showcase BlackRock’s evolving investment strategy and growing exposure to digital assets, aligning with institutional trends.

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BlackRock’s investment in MicroStrategy has evolved significantly over the years, especially as MicroStrategy increased its focus on Bitcoin. Starting with modest holdings in the early 2010s, BlackRock gradually raised its stake as the company’s profile grew, reaching 1.4 million shares in 2019, a stake valued at approximately $200 million. However, as MicroStrategy shifted heavily into Bitcoin, BlackRock strategically increased its stake, making substantial gains as Bitcoin’s price surged.

By early 2023, BlackRock held about 757,000 shares, representing an 8.1% stake. This position grew further in early 2024 when BlackRock disclosed ownership of over 1 million shares, representing 7.5% of MicroStrategy. This growth illustrates BlackRock’s interest in cryptocurrency-related investments through indirect exposure to Bitcoin, aligning with the company’s broader interest in digital assets, including its push to launch a Bitcoin ETF (exchange-traded fund) in the U.S.

BlackRock’s increasing investment in MicroStrategy reflects a broader institutional shift toward digital assets, with the company strategically positioning itself as a significant investor in both blockchain technology and the digital asset ecosystem more broadly. This aligns with BlackRock CEO Larry Fink’s recent statements on the potential of digital currencies to transform financial systems and transactions globally.

Sources:

• Fintel (fintel.io)

• Market Realist

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BlackRock has been increasing its stake in MicroStrategy, which has significant holdings in Bitcoin, providing BlackRock with indirect exposure to Bitcoin. As of early 2024, BlackRock reported owning over 1 million shares of MicroStrategy, representing a 7.5% ownership stake, up from 757,000 shares in 2023. This strategic investment aligns with BlackRock’s gradual embrace of digital assets through indirect holdings and its own initiatives, such as a Bitcoin spot ETF. BlackRock’s involvement in MicroStrategy reflects a broader institutional trend toward Bitcoin and digital assets as alternative investments   .