BlackRock Doubles Down on Bitcoin: Increases Stake in Strategy to 5%

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In a latest development, BlackRock has increased its stake in Michael Saylor’s Strategy, reflecting its growing institutional interest in Bitcoin. 

In a Schedule 13G filing, it revealed that it now holds 5% of Strategy (MSTR), or about 11.2 million shares. This is a 0.91% increase from its previous 4.09% stake as of September 30, 2024, according to Yahoo Finance.

After the investment, MicroStrategy’s stock rose 2.8% in pre-market trading to $325 by 12:25 pm UTC on Feb. 7. Notably, Strategy is the world’s largest corporate Bitcoin holder with 471,107 BTC worth around $48 billion.

BlackRock’s increasing stake in Saylor’s company comes just a day after MicroStrategy rebranded as “Strategy” and unveiled a Bitcoin-inspired visual marketing design. Even with Bitcoin dipping below $100,000, both BlackRock and Strategy are continuing their investments in the cryptocurrency.

Despite a $670 million net loss in Q4 2024, Strategy will press ahead with its “21/21 Plan,” aiming to raise $42 billion over the next three years, split between equity and fixed-income securities to buy more Bitcoin.

The company has already raised $20 billion of that target, funding its Bitcoin purchases mainly through senior convertible notes and debt.