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BlackRock’s investment comes a day after the world’s largest corporate Bitcoin holder rebranded from MicroStrategy to Strategy.
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BlackRock has increased its stake in Michael Saylor’s Strategy to 5%, reinforcing its growing institutional interest in Bitcoin.
BlackRock, the world’s largest asset manager with over $11.6 trillion in assets under management, has increased its stake in Strategy to 5%, according to a Feb. 6 filing with the US Securities and Exchange Commission.
BlackRock filing. Source: SEC
Following the investment, MicroStrategy’s stock price rose by more than 2.8% in pre-market trading, to change hands at $325 as of 12:25 pm UTC on Feb. 7, Google Finance data shows.
Strategy, 1-day chart, Source: Google Finance
Strategy is the world’s largest corporate Bitcoin (BTC) holder with holdings of 471,107 BTC worth around $48 billion.
BlackRock’s growing stake in Saylor’s company comes a day after MicroStrategy rebranded to Strategy and adopted a Bitcoin-themed visual marketing scheme, Cointelegraph reported on Feb. 5.
This article first appeared at Cointelegraph.com News
