The Bitcoin ETF managed by BlackRock currently possesses a larger amount of BTC in its holdings compared to MicroStrategy

Crypto News– BlackRock’s Bitcoin ETF, trading under the ticker symbol IBIT, has surpassed MicroStrategy’s holdings of the cryptocurrency. As of March 8, according to data from BitMEX Research, IBIT boasts a staggering 197,943 BTC, valued at over $13.5 billion. This development comes nearly 40 trading sessions after the United States Securities and Exchange Commission greenlit nine new funds on January 10.

The Bitcoin ETF managed by BlackRock currently possesses a larger amount of BTC in its holdings compared to MicroStrategy

Excluding Grayscale’s GBTC, the collective assets held by the newly launched Bitcoin ETFs have surged to $28 billion, reflecting the growing institutional appetite for the cryptocurrency. Bitcoin’s price soared past the $70,000 mark on March 8, propelled by robust institutional demand. Reports from X (formerly Twitter) suggest that over-the-counter (OTC) trading platforms are facing a scarcity of Bitcoin and resorting to public exchanges to meet order demands, particularly from large-volume traders such as institutional investors, traditionally serviced by OTC desks.

While not an ETF issuer, MicroStrategy, a technology firm, has strategically accumulated a substantial Bitcoin portfolio totaling 193,000 BTC as part of its corporate treasury strategy. Employing a leveraged operating approach, MicroStrategy utilizes debt to fund its operations and investments.

MicroStrategy is intensifying its commitment to its Bitcoin strategy, recently announcing plans for a debt offering intended to raise over $600 million to bolster its Bitcoin reserves. This Bitcoin-centric strategy has led to MicroStrategy’s stock (MSTR) being likened to a “leveraged Bitcoin ETF.” The strategy has yielded impressive results, with MSTR surging by 642% in the past 12 months, significantly outpacing Bitcoin’s gains of 244% over the same period.

Michael Saylor, CEO of MicroStrategy, remains steadfast in his commitment to Bitcoin, expressing his long-term outlook by stating, “I’m going to be buying the top forever. Bitcoin is the exit strategy,” in an interview with Bloomberg on February 20.