BlackRock Rises as Second Largest Bitcoin Holder, Challenging Satoshi’s Dominance
BlackRock, a leading asset manager, has become one of the biggest Bitcoin (BTC) holders globally. The firm’s iShares Bitcoin Trust (IBIT) now controls over 621,000 BTC, valued at approximately $64.5 billion. This positions BlackRock close to Bitcoin’s creator, Satoshi Nakamoto, who reportedly holds 1.1 million BTC.
Launched in january 2024, IBIT has quickly become a favorite among institutions seeking BTC exposure. It now holds about 2.96% of Bitcoin’s 21 million total supply. Though, considering that up to 20% of BTC might be lost or inaccessible, BlackRock’s stake could represent over 3.5% of the circulating supply.
- BlackRock holds more BTC than major players like Michael Saylor’s Strategy and Binance.
- U.S. spot Bitcoin ETFs saw $2.75 billion in inflows last week.
This trend indicates a significant shift in Bitcoin’s role from a speculative asset to a core institutional investment. Tracy Jin, MEXC’s COO, noted that corporate integration of BTC into long-term strategies “is fundamentally reshaping Bitcoin’s market dynamics.”
As customary safe-haven assets lose appeal, Bitcoin is seen as a potential neutral, obvious, and liquid store of value. Jin believes Bitcoin could reach $140,000 by summer if it breaks above $112,000. Wiht institutional momentum growing,the line between traditional finance and crypto is blurring rapidly.
