BlackRock Bitcoin ETF Surpasses MicroStrategy in BTC Holding
Data from BitMEX revealed that BlackRock’s IBIT now has nearly 198,000 BTC, outpacing MicroStrategy’s holdings.
Michael Saylor, one of Bitcoin’s leading advocates in the institutional space, has reconfirmed his support for the cryptocurrency.
As MicroStrategy CEO, Saylor has expressed his proponency for Bitcoin as an alternative asset worth investment from both a retail and institutional point. Speaking at a recent cryptocurrency convention, Saylor commented on the benefits of Bitcoin as a cross-border asset. Comparing Bitcoin to other alternative assets such as gold, real estate and shares, Saylor pointed out Bitcoin’s global value as a unique element.
While Bitcoin does require a massive amount of energy to produce and for transactions, Saylor pointed out the sustainable value that Bitcoin has as a long-term held asset. For example, property and real estate require maintenance for it to be feasible as a long-term investment, otherwise, it will not only lose value but it can also become a liability to upkeep. Bitcoin on the other hand represents an investment that, once purchased, requires no maintenance. He noted:
“Bitcoin represents a property that you can acquire in small pieces that you can carry with you anywhere you go. You can give to your children’s children’s children’s children. And in 250 years, maybe your family still owns the property.”
Data from BitMEX revealed that BlackRock’s IBIT now has nearly 198,000 BTC, outpacing MicroStrategy’s holdings.
Federal Reserve chair Jerome Powell emphasised that the United States is still a long way from launching CBDC.
Satoshi Action Fund's CEO suggested that adding a small amount of Bitcoin ETF exposure could “dramatically” de-risk an asset portfolio.
The new all-time highs marked the first time BTC and gold hit new records simultaneously since the emergence of BTC.