BlackRock and Strategy continue to bet big on Bitcoin š§
Despite the recent drop in Bitcoin value below $100,000, both BlackRock and Strategy are still investing heavily in Bitcoin. Strategy plans to invest $42 billion over the next three years, despite a net loss of $670 million in the fourth quarter of 2024. So far, Strategy has raised $20 billion, mainly through senior convertible bonds and loans. BlackRock's Bitcoin ETF became the world's 31st largest ETF on January 31, 2024. BlackRock's largest Bitcoin ETF is valued at over $55.5 billion and controls 48.7% of the holdings of all US spot Bitcoin ETFs. ETF investments were a significant driver of the Bitcoin rally in 2024.
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Source : Dune
