Microstrategy’s Bitcoin Holdings Compared to Other Large Holders
In a recent post on X, HODL15Capital shared a table comparing the Bitcoin holdings of various entities in the industry. The table showed that as of March 6, 2024, Microstrategy was ahead of spot exchange-traded funds (ETFs), other large company holders like Tesla, and mining firms like Marathon.
However, it’s worth noting that Grayscale Bitcoin Trust (GBTC), which has been converted into a spot ETF, actually has double the holdings of Microstrategy. Despite this, Microstrategy still remains ahead of most other entities in terms of Bitcoin holdings.
BlackRock’s iShares Bitcoin (IBIT) vs. Microstrategy
BlackRock’s iShares Bitcoin (IBIT) was shown to be right behind Microstrategy in terms of holdings. The difference between the two was less than 5,500 BTC at the time of the post.
Since then, BlackRock’s ETF has observed more inflows, which have been estimated in terms of BTC value. However, as of March 7, 2024, Microstrategy still holds more BTC than iShares Bitcoin ETF.
The Race Between Microstrategy and iShares Bitcoin ETF
While the difference between Microstrategy and iShares Bitcoin ETF is relatively small now, it may not be long before the latter overtakes the former. Michael Saylor’s company is also planning to acquire more Bitcoin soon, so there may be a continued back-and-forth between these two entities.
Microstrategy has taken several years to accumulate its current BTC holdings, while BlackRock’s ETF was only recently approved and already matches Microstrategy in terms of holdings. It’s important to note that these holdings represent different things. For iShares, the BTC holdings represent a fund that BlackRock has acquired to provide exposure to the cryptocurrency. Microstrategy, on the other hand, has bought BTC as an investment for the long-term.
The inflows into iShares and other ETFs demonstrate the demand for Bitcoin from the traditional side of the market. This influx of institutional money has been significant so far.
BTC Price
Bitcoin has mostly recovered from its recent crash and is currently trading around $67,600. However, it has not yet fully retraced back to its all-time high.
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