Strategy and IBIT ETF Command 1.65 Million Bitcoin Worth $140 Billion
Two major Bitcoin holders, Strategy and Blackrock’s Bitcoin Trust ETF (IBIT), now collectively hold 1.653 million BTC, valued at approximately $140 billion. Strategy’s holdings stand at 848,000 BTC, while IBIT holds 805,222.42 BTC. Despite their similar holdings, the two operate very differently. Strategy’s Bitcoin is part of a corporate treasury, while IBIT’s Bitcoin is managed through a Delaware statutory trust where investors own shares representing fractional interests.
Strategy recently added 334 BTC to its holdings, bringing its total to 848,000 BTC, valued at around $72.23 billion. The firm’s average purchase price is $75,440.70, making its current holdings roughly $8.26 billion above the reported cost. IBIT, on the other hand, holds 805,222.42 BTC, close to its historical high but not a new record. The trust’s holdings are valued at about $68.59 billion.
While Strategy’s Bitcoin is directly managed by the company, IBIT’s Bitcoin is held in a trust with Coinbase Custody and Anchorage Digital as custodians. Blackrock does not hold the coins as a corporate asset. The ETF operates through a creation-and-redemption mechanism, allowing authorized participants like Goldman Sachs and JPMorgan Securities to exchange Bitcoin for shares or vice versa.
The two giants control roughly 7.87% of Bitcoin’s maximum supply, highlighting their significant influence in the market. Despite their similar holdings, the mechanisms behind their management are vastly different, reflecting the diverse strategies in Bitcoin investment and custody.