In a latest development, BlackRock has increased its stake in Michael Saylor’s Strategy, reflecting its growing institutional interest in Bitcoin.
In a Schedule 13G filing, it revealed that it now holds 5% of Strategy (MSTR), or about 11.2 million shares. This is a 0.91% increase from its previous 4.09% stake as of September 30, 2024, according to Yahoo Finance.
After the investment, MicroStrategy’s stock rose 2.8% in pre-market trading to $325 by 12:25 pm UTC on Feb. 7. Notably, Strategy is the world’s largest corporate Bitcoin holder with 471,107 BTC worth around $48 billion.
BlackRock Boosts Stake in Strategy After Rebrand
BlackRock’s increasing stake in Saylor’s company comes just a day after MicroStrategy rebranded as “Strategy” and unveiled a Bitcoin-inspired visual marketing design. Even with Bitcoin dipping below $100,000, both BlackRock and Strategy are continuing their investments in the cryptocurrency.
Despite a $670 million net loss in Q4 2024, Strategy will press ahead with its “21/21 Plan,” aiming to raise $42 billion over the next three years, split between equity and fixed-income securities to buy more Bitcoin. The company has already raised $20 billion of that target, funding its Bitcoin purchases mainly through senior convertible notes and debt.
As of January 31, BlackRock’s Bitcoin exchange-traded fund (ETF) became the 31st-largest ETF globally, including both crypto and traditional finance products, according to VettaFi data. The ETF is the largest Bitcoin fund, with a value exceeding $55.5 billion, controlling over 48.7% of all US spot Bitcoin ETFs, according to Dune data.
ETF investments were crucial in Bitcoin’s 2024 price rally, contributing about 75% of new investments when Bitcoin reclaimed the $50,000 mark on February 15, just under a month after the ETFs’ launch.
Growing Bitcoin Adoption
https://legiscan.com/KY/bill/HB376/2025https://legiscan.com/KY/bill/HB376/2025Bitcoin adoption is growing in the US, with Kentucky recently becoming the 16th state to introduce Bitcoin reserve legislation on Feb. 6. Kentucky’s bill follows a similar move by Illinois, which proposed a Bitcoin reserve strategy with a minimum holding period of five years just a week earlier.
