Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » BlackRock Owns Major Stake in Bitcoin Investor MicroStrategy

BlackRock Owns Major Stake in Bitcoin Investor MicroStrategy

Kelly Cromley by Kelly Cromley
Aug 14, 2020
in Bitcoin News, Market News, News
Reading Time: 3 mins read
0

At the beginning of this week, Bitcoin (BTC) enthusiasts and crypto investors were delighted to know that MicroStrategy, a Nasdaq-listed business intelligence enterprise, having a market cap of $1.20 billion, had officially endorsed Bitcoin as its main reserve asset by buying 21,454 BTC (worth $250 million).

That paved way for a large number of cryptocurrency analysts and professionals to issue ultra-bullish statements on Twitter, making several people firmly believe that Bitcoin is on the verge of a massive break out.

While the report is upbeat and a strong indication that institutional adoption of cryptos is happening, there is yet another notable info. The $89 billion fund BlackRock is the largest shareholder of MicroStrategy.

As per data provided by CNN Business, BlackRock Fund Advisors owns a 15.24% stake in MicroStrategy. This implies MicroStrategy’s latest buying provides BlackRock with roundabout exposure to Bitcoin, transforming the company into a “publicly-traded Bitcoin play.”

MicroStrategy, through a media release, stated that it is adopting Bitcoin as a “primary treasury reserve asset.” and CEO Michael J. Saylor affirmed that that Bitcoin could likely be supreme to cash.

Saylor said:

“Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.”

The Bitcoin purchase looks more intriguing considering the earlier comments made by Saylor and BlackRock about the numero uno crypto. Back in February 2018, BlackRock’s international chief investment strategist Richard Turnill stated:

“We see cryptocurrencies potentially becoming more widely used in the future as the markets mature. Yet for now, we believe they should only be considered by those who can stomach potentially complete losses.”

During the same period, Turnill listed out certain criteria that could provide necessary impetus to Bitcoin in the long-term. He stressed that a worldwide regulatory infrastructure on cryptos could likely assist the growth of cryptos.

Soon thereafter, the Financial Action Task Force (FATF) under G7 created united crypto regulatory guidelines. Several top countries throughout Asia, the US and Europe have also endorsed precise guidelines regarding cryptos.

MicroStrategy, a $1.2 billion company, just turned itself into a publicly-traded bitcoin play. Smart https://t.co/tCXiAVc8w7

— Barry Silbert (@barrysilbert) August 11, 2020


Saylor, who is upbeat about the long-term growth prospects of Bitcoin, was extremely cynical about the crypto in 2013 when he stated:

“Bitcoin’s days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.”

Enterprises that have earlier denied Bitcoin are showing a shift in stance by beginning to accept it as an asset of value. Notably, JPMorgan has started serving Bitcoin exchanges Coinbase and Gemini in May.

Changpeng Zhao, the CEO of Binance, said:

Smart publicly listed company buys $250,000,000 worth of #bitcoin, as a safe heaven asset.

Stimulus money flowing from Wall Street into #bitcoin.

Are you in front or behind them? https://t.co/1FYLZERjkS

— CZ Binance (@cz_binance) August 11, 2020


The change in stance underlines the rising adoption of Bitcoin across the globe.

Previous Post

MyEtherWallet Joins DeFi Bandwagon in Sync with Aave & Ren

Next Post

MIT, Cornell & 18 More Univ Join Data Program of Oasis Blockchain Network

Related Posts

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

by Mostafijur Rahman
Jun 13, 2025
0

Ripple’s vision of replacing or supplementing parts of the legacy SWIFT system is not new—but what if it actually happened...

sft-luffa-partner-for-secure-web3-messaging

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
0

SFT Protocol, a notable player in the decentralized finance landscape known for enabling liquidity in staked assets, has announced a...

quackai-soonchain-decentralized-gaming-partnership

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
0

Quack AI, an established platform specializing in artificial intelligence-driven governance solutions, has announced a strategic partnership with SoonChain, a progressive...

Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
0

Polygon, a leading Layer 2 scaling solution for Ethereum, has announced plans to extend the functionality of its native POL...

Cardano Launches Smart Contracts Testnet “KEVM”

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
0

Cardano, one of the foremost public decentralized blockchain protocols, has unveiled a new anti-grinding mechanism aimed at improving network security...

nillion unveils alpha mainnet to advance privacy-centric computing

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025
0

In a significant move toward expanding decentralized infrastructure beyond traditional crypto use cases, Nillion has officially introduced its Enterprise Cluster....

Next Post
MIT, Cornell & 18 More Univ Join Data Program of Oasis Blockchain Network

MIT, Cornell & 18 More Univ Join Data Program of Oasis Blockchain Network

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

sft-luffa-partner-for-secure-web3-messaging
Market News

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
quackai-soonchain-decentralized-gaming-partnership
Market News

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises
Market News

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
Cardano Launches Smart Contracts Testnet “KEVM”
Cardano News

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
nillion unveils alpha mainnet to advance privacy-centric computing
Market News

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree