BlackRock’s Position in Bitcoin and Major Companies Holding Bitcoin
BlackRock, one of the largest investment companies in the world, is showing interest in Bitcoin. The company is seeking SEC approval for a Bitcoin spot ETF and is a major shareholder in four out of the five largest Bitcoin miners. Finbold aims to explore the extent of BlackRock’s involvement in the ecosystem, the interdependence between BlackRock and Bitcoin, and the potential influence of BlackRock Fund Advisors on Bitcoin’s future.
BlackRock’s Shareholdings in Major Bitcoin-Related Companies
- Tesla Inc. (NASDAQ: TSLA): BlackRock holds 116,404,341 shares (3.67%) valued at $31.13 billion.
- PayPal Holdings Inc. (NASDAQ: PYPL): BlackRock holds 48,059,377 shares (4.31%) valued at $3.64 billion.
- Block Inc. (NYSE: SQ): BlackRock holds 20,240,610 shares (3.72%) valued at $1.63 billion.
- Coinbase Global Inc. (NASDAQ: COIN): BlackRock holds 6,185,874 shares (3.31%) valued at $609.99 million.
- Microstrategy Inc (NASDAQ: MSTR): BlackRock holds 730,063 shares (6.64%) valued at $319.68 million.
Breakdown of Companies and their Bitcoin Holdings
- Tesla: Holds 10,725 BTC ($278.85 million).
- Microstrategy: Holds 152,800 BTC ($3.97 billion).
- PayPal: Safeguards $499 million in BTC (as of March 31, 2023).
- Coinbase: Holds 9,000 BTC ($234 million).
- Block: Holds 8,027 BTC ($108.7 million).
Conclusion: BlackRock’s Involvement in Bitcoin and Major Bitcoin-Related Companies
BlackRock’s interest in Bitcoin goes beyond seeking SEC approval for a Bitcoin spot ETF. The company is also a major shareholder in prominent Bitcoin-related companies like Tesla and PayPal. While Tesla and Microstrategy primarily hold Bitcoin as an investment, PayPal and Coinbase focus on Bitcoin services like trading and custody. Block, founded by Jack Dorsey and Jim McKelvey, offers Bitcoin-related solutions. Overall, BlackRock’s position as a shareholder in these companies indicates its substantial exposure and potential influence in the Bitcoin ecosystem.
Hot Take: BlackRock’s growing involvement in Bitcoin and major Bitcoin-related companies highlights the increasing acceptance and integration of cryptocurrency into mainstream finance. As a major player in the investment industry, BlackRock’s interest in Bitcoin further legitimizes the cryptocurrency and could contribute to its continued growth and adoption.
Fin Boldom has emerged as a notable crypto analyst, accomplished researcher, and adept editor, leaving a distinct mark in the field of cryptocurrency. As a skilled crypto analyst and researcher, Fin’s insights delve deep into the complexities of digital assets, resonating with a diverse audience. His analytical acumen is seamlessly complemented by his editorial finesse, enabling him to distill intricate crypto information into easily comprehensible content. Fin’s contributions serve as a valuable guidepost for both seasoned enthusiasts and newcomers, navigating the dynamic terrain of cryptocurrencies with well-researched perspectives. With meticulous attention to accuracy, he empowers informed decision-making within the ever-evolving crypto domain.
