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BlackRock, Fidelity Might Be Aggressively Bullish on Bitcoin (BTC) Amid Bloodbath

Thu, 06/15/2023 - 11:42
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Vladislav Sopov
Here's how institutions are increasing their Bitcoin (BTC) exposure as prices are plummeting
BlackRock, Fidelity Might Be Aggressively Bullish on Bitcoin (BTC) Amid Bloodbath
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As markets are captured by accelerating fear over attacks from U.S. SEC, some "fat cats" might be using these opportunities to increase their Bitcoin (BTC) bags. Here's how aggressively bullish they have been in the last few months — even those who do not hold Bitcoin (BTC) directly.

$10 trillion asset manager and top banks are betting big on Bitcoin (BTC)

Blue-chip banks and corporations are increasing their bets on Bitcoin (BTC) by purchasing MicroStrategy (MSTR) stocks. In recent months, they injected a massive amount of liquidity in MSTR, Bitcoin Culture newsletter reports.

Their authors tracked the activity of two heavyweight asset management firms, BlackRock and Fidelity, plus Bank of America, in terms of their exposure to MSTR, the largest corporate holder of Bitcoin (BTC).

For corporations that are not interested (or limited) in buying Bitcoin (BTC) directly, MSTR shares usually serve as a reliable proxy investment to get exposure to Bitcoin (BTC) price performance.

That said, both BlackRock and Fidelity are in the top five of MSTR stock owners. As reported by CNN, in recent months, Fidelity increased its exposure to MSTR more than sevenfold.

Bank of America also increased its MSTR share through BofA Securities Inc. Its stake size spiked by over 47,000%, as displayed by Bitcoin Culture.

Largely, institutions are underwater at current Bitcoin (BTC) prices

Also, MSTR stocks are aggressively accumulated by the largest Canada banks and investment platforms from all over the globe.

According to statistics by Bitcoin Treasuries, the most reliable tracker of BTC bags of publicly traded companies, governments and investing conglomerates, institutions are currently responsible for 1,652,703 Bitcoins (BTC) in total, which is equal to 7.87% of its net supply.

However, almost all of the largest Bitcoin (BTC) holdings on this list are losing money so far. Only three out of 10 of the top corporate holders of Bitcoin — Bitcoin Group SE, Bigg Digital Assets and Advanced Bitcoin Technologies AG — managed to benefit from investing in Bitcoin (BTC).

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)