BlackRock Becomes One of the Largest Bitcoin Holders

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In early January, investment firm BlackRock launched a spot ETF for cryptocurrency, specifically tracking the performance of Bitcoin.

Remarkably, within just two months, this fund became one of the largest holders of digital currency. By the end of last week, the IBIT fund had even surpassed MicroStrategy in terms of the amount of BTC held, with just under 200,000 Bitcoins under its control.

In comparison, the software developer held 193,000 BTC at the same time. Despite this achievement, on March 11, it was announced that MicroStrategy had purchased an additional 12,000 BTC, spending approximately $822 million.

The average price per Bitcoin for the company was $68,475, according to founder Michael Saylor. It was also revealed that MicroStrategy had recently issued bonds worth $800 million, with a maturity date set for 2030.

Saylor has previously stated that the raised funds will be used to buy more cryptocurrency. Furthermore, MicroStrategy has made it clear that they will hold onto their BTC holdings, even if the value of the digital currency drops.