BlackRock Inc.‘s (NYSE:BLK) iShares Bitcoin Trust (NASDAQ:IBIT) has surpassed Strategy Inc.‘s (NASDAQ:MSTR) Bitcoin (CRYPTO: BTC) holdings, accumulating nearly 700,000 BTC worth approximately $75.8 billion and capturing 3.32% of Bitcoin’s total supply, according to Bitcoin Treasuries data.
What Happened: The milestone marks a significant shift in corporate Bitcoin ownership after just 18 months of trading. ETF Institute Co-Founder Nate Geraci called the achievement “ridiculous” in a Monday X post, highlighting IBIT’s rapid accumulation pace.
MicroStrategy, led by Executive Chairman Michael Saylor, holds 597,325 BTC valued at $64.8 billion with an average cost basis of $70,982 per coin. The business intelligence firm pioneered the corporate Bitcoin treasury strategy and maintains $22.6 billion in unrealized profits from its $42.4 billion investment.
Why It Matters: IBIT now generates an estimated $187.2 million in annual fees, surpassing revenue from BlackRock’s Core S&P 500 ETF, according to VanEck‘s Head of Digital Assets Research Matthew Sigel. The Bitcoin ETF commands 55% of the Bitcoin ETF market share with over $52 billion in cumulative inflows.
MicroStrategy announced Monday a $4.2 billion at-the-market offering of Series A Perpetual Stride Preferred Stock to fund additional Bitcoin purchases. The move is part of the company’s expanded “42/42” capital plan targeting $84 billion in Bitcoin acquisitions by 2027, which is 38% complete.
The corporate Bitcoin landscape continues evolving as Japanese tech company Metaplanet recently surpassed Coinbase Global Inc.‘s (NASDAQ:COIN) holdings with 10,000 BTC, demonstrating growing institutional adoption beyond traditional treasury strategies.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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