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BlackRock Will Become The Largest Bitcoin Holder, Says Analyst

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BlackRock Will Become The Largest Bitcoin Holder, Says Analyst

(CTN News) – In the near future, BlackRock will surpass MicroStrategy as the largest Bitcoin holder.

Eric Balchunas, an industry analyst, has endorsed the prediction based on the current acquisition rates of Bitcoin by BlackRock.

Ascendancy in the Bitcoin space is inevitable, although Balchunas expressed skepticism about the pace of this development.As he wrote, “Good point. Doubt it will happen that rapidly, but it will happen.”.

Top Bitcoin-holding corporations

Corporate Bitcoin holdings are currently dominated by several key players.As the leader of the pack, MicroStrategy, Inc. (MSTR) holds 189,150 Bitcoins, which are valued at approximately $8.12 billion.

MicroStrategy is closely followed by Marathon Digital Holdings (MARA) and Tesla, Inc. (TSLA), each holding 13,726 bitcoins and 9,720 bitcoins, respectively.

A number of other notable names include Coinbase Global (COIN), Hut 8 Mining Corp (HUT), and Block, Inc. (SQ).

Launch of BlackRock’s Bitcoin ETF

BlackRock has successfully launched its Bitcoin ETF, a move hailed by its CEO Larry Fink as a major step forward in the financial markets’ technological revolution.

BlackRock Spot Bitcoin ETF, which has been listed on the Nasdaq since last week, has acquired 11,439 Bitcoins worth approximately $500 million within just two days of its listing.

Aside from marking a major milestone for BlackRock, this ETF also reflects the growing interest and acceptance of cryptocurrencies among traditional financial institutions.

Besides ETFs, Fink’s vision extends to the tokenization of real-world assets, a concept that is gaining traction among blockchain enthusiasts.

SEE ALSO:

Alibaba, Tencent Cut External Investments In 2023

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