In addition, Bitcoin’s market cap has now surpassed silver and Google to become the world’s sixth-largest traded asset.

The news that Strategy Corporation (formerly MicroStrategy) purchased an additional 13,390 Bitcoins between May 5 and 11 has raised concerns among investors. BlackRock and Strategy Corporation now collectively hold a combined 1.19 million Bitcoins, or about 6% of the circulating supply. Some investors are concerned that Strategy founder Michael Saylor is taking too much responsibility for supporting the price of Bitcoin.

Critics such as Peter Schiff have suggested that Strategy Corporation’s increasingly high average purchase cost could eventually lead to losses, and that the company may be forced to sell some of its assets to cover borrowing costs. However, this scenario seems unlikely, as the company has doubled its capitalization limit, which includes $21 billion in stock and $21 billion in debt