BlackRock Acquires Over 5% Stake in Strategy, Formerly MicroStrategy
BlackRock has disclosed in its Schedule 13G filing that it now owns over 5% of MicroStrategy Inc (NASDAQ: MSTR), holding approximately 11.2 million shares. This represents a 0.91% increase from the previous quarter, raising its stake from 4.09% to 5%. MicroStrategy, recently rebranded to Strategy, serves as a proxy for institutional investments in Bitcoin.
Key points include:
- MSTR stock has seen a 540% return over the past year, outperforming Bitcoin.
- BlackRock's iShares Bitcoin Trust (IBIT) has gained over $40 billion in net inflows since its January 2024 launch.
- Following its rebranding, Strategy's stock (now trading as STRK) rose 5% in pre-market trading after closing 2% higher earlier this week.
- Strategy aims for $10 billion in Bitcoin gains by 2025, with $1.24 billion achieved so far this year.
- Current Bitcoin yield goal is 15%, with a year-to-date yield of 2.9%.
Other firms are also adopting similar Bitcoin investment strategies, leading to significant stock price appreciation.