In a significant move, BlackRock has increased its stake in Strategy (formerly MicroStrategy) to 5%, reflecting the asset manager’s growing interest in Bitcoin exposure.
According to a filing with the Securities & Exchange Commission (SEC), BlackRock now owns 11.2 million shares of Strategy’s stock, up from 9.4 million in September.
Strategy’s New Focus and Rebrand
Strategy’s rebrand, which emphasizes its Bitcoin strategy and financial tactics, aligns with its goal of raising funds through issuing debts to acquire more Bitcoin.
Despite its aggressive Bitcoin acquisitions, including purchasing 218,887 BTC for over $20 billion between October and January, Strategy paused its Bitcoin buying spree. The company now holds 471,107 BTC, worth over $46 billion.
BlackRock’s Bitcoin Exposure Through Strategy
While BlackRock already has substantial Bitcoin exposure via its iShares Bitcoin Trust (IBIT), which is valued at $56 billion, its increased stake in Strategy signifies a broader strategy to leverage the company’s Bitcoin holdings indirectly.
Despite these bullish moves, Strategy reported a 3% YoY revenue decline to $120 million and a net loss of $670 million in Q4 2024.