MicroStrategy Lost Its Position, This Company Is Now a Bitcoin Giant!

BlackRock accumulated 12,600 BTC worth $842 million in the past day. According to HODL15Capital, the newly added BTCs contributed to BlackRock's Bitcoin stash reaching 196,000 BTC. Thus, BlackRock's Bitcoin holding surpassed Michael Saylor's MicroStrategy.

BlackRock continues to grow its Bitcoin stash!

As you follow from Kriptokoin.com, spot Bitcoin ETF has made a huge impact in terms of institutional acceptance. BlackRock, the world's largest asset manager, has made a significant play on this with its ETF product. BlackRock is making waves in the market with its Bitcoin accumulation and ETF inflows. According to HODL15Capital's post, BlackRock's BTC assets surpassed the BTC portfolio of Michael Saylor's MicroStrategy.

After 40 trading days (3/8/24), BlackRock’s Bitcoin ETF, $IBIT, holds more Bitcoin than @saylor ‘s $MSTR 👇 pic.twitter.com/tog83bYDUJ

— HODL15Capital 🇺🇸 (@HODL15Capital) March 9, 2024

Arkham Intelligence's data revealed that BlackRock made the highest one-day on-chain inflow during the week. BlackRock added 12,600 BTC worth $842 million to its portfolio. Thus, the BTC stash reached 183,300 BTC worth $12.3 billion.

BlackRock dethroned MicroStrategy!

According to HODL15Capital's findings, BlackRock's Bitcoin holdings have grown to outpace MicroStrategy's collection. According to the chart by HODL15Capital, BlackRock currently holds a total of 196,089 BTC, while MicroStrategy has 193,000 BTC.

Source: HODL15CapitalLast month, MicroStrategy purchased another 3,000 BTC for $155 million. Michael Saylor shared the details of the purchase on his X account. He said Bitcoins were purchased at an average price of $51,813 per BTC. He added that the company currently holds a total of 193,000 BTC.

MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoin. As of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR

— Michael Saylor⚡️ (@saylor) February 26, 2024

BlackRock's iShares sees record inflow

BlackRock's massive BTC purchase comes at a time when Spot Bitcoin ETF inflows are increasing. On March 5, BlackRock's iShares Bitcoin Trust (IBIT) reached its highest inflow of $788 million. Thus, it surpassed its previous high of $612.1 million.

Amidst these major developments and expectations of the upcoming Bitcoin halving, BTC is hovering around its all-time high of $69,044. Currently trading at $68,646, BTC has recorded a modest daily increase of 1.74%, a weekly increase of 10.78%, and a massive monthly increase of 48.32%. The leading cryptocurrency recently recorded a new all-time high.

### Bloomberg: Bitcoin miners generating energy at record pace consumes!

After emerging from the last crypto winter, Bitcoin miners have stepped up purchasing equipment. Additionally, it started consuming energy at record speed. This increase in activity was driven by the rising price of Bitcoin, the newly launched spot BTC ETF, and the upcoming quadrennial halving event in April.

All these activities pushed BTC miners to consume energy at a record pace. According to Coin Metrics, miners consumed a record 19.6 gigawatts of electricity last month. This figure was 12.1 gigawatts in the same period in 2023. This is equivalent to the power capacity needed to power approximately 3.8 million households in Texas, where many mining companies are located.

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