BlackRock Boosts Stake in Michael Saylor’s Strategy to 5%, Increasing Bitcoin Exposure

BlackRock, the world’s largest asset manager with over $11.6 trillion in assets under management, has expanded its stake in Michael Saylor’s rebranded company, Strategy, signaling a growing institutional interest in Bitcoin.

According to a February 6 filing with the U.S. Securities and Exchange Commission (SEC), BlackRock now holds a 5% stake in Strategy, reinforcing its confidence in Bitcoin-focused corporate strategies.

Following the news, MicroStrategy’s stock price—now trading under the Strategy brand—rose by over 2.8% in pre-market trading, reaching $325 as of February 7, according to Google Finance data.

The newly branded Strategy remains the world’s largest corporate Bitcoin holder, with 471,107 BTC, valued at approximately $48 billion.

BlackRock and Strategy Continue Bitcoin Investments

BlackRock’s increased stake comes just one day after MicroStrategy officially rebranded to Strategy, adopting a Bitcoin-focused corporate identity.

Despite Bitcoin’s recent price correction, both Strategy and BlackRock continue expanding their BTC holdings.

Despite reporting a $670 million net loss in Q4 2024, Strategy remains committed to its “21/21 Plan”, aiming to raise $42 billion over three years through equity and fixed-income securities to buy more Bitcoin.

The company has already secured $20 billion toward this goal, funding its BTC acquisitions primarily through senior convertible notes and debt issuances.

Meanwhile, BlackRock’s Bitcoin exchange-traded fund (ETF) has become one of the most dominant players in the crypto investment space.

JUST IN: 🇺🇸 BlackRock increases its ownership of Strategy $MSTR to 5% – SEC Fillings pic.twitter.com/MTtd1dWPdA

— Bitcoin Magazine (@BitcoinMagazine) February 7, 2025

By January 31, it ranked as the 31st-largest ETF in the world, according to VettaFi data.

BlackRock’s Bitcoin ETF currently holds over $55.5 billion in assets, controlling 48.7% of total U.S. spot Bitcoin ETF holdings, per Dune Analytics.

Institutional demand for Bitcoin has been a key driver of its 2024 price rally, with ETFs accounting for 75% of new investments when BTC crossed the $50,000 mark on February 15—just weeks after spot ETFs launched.

Beyond Wall Street, U.S. lawmakers are also considering Bitcoin adoption at the state level.

On February 6, Kentucky became the 16th state to introduce Bitcoin reserve legislation, mirroring similar moves by Illinois and other states.

Likewise, Missouri Representative Ben Keathley has introduced a bill aimed at incorporating Bitcoin into the state’s financial strategy.

Utah One Step Closer to Becoming First US State with Bitcoin Reserve

As reported, Utah House Bill 230 recently cleared the state’s House of Representatives on February 6 and is now moving to the Senate.

Utah’s bill, introduced by Representative Jordan Teuscher, would allow the state treasurer to allocate up to 5% of public funds into Bitcoin, stablecoins, and other high-cap digital assets.

According to data from bitcoinlaws.io, 17 U.S. states are actively discussing Bitcoin reserves, with Arizona, Kentucky, New Hampshire, North Dakota, Wyoming, and South Dakota among those considering similar legislation.

However, not all states have embraced the idea.

North Dakota lawmakers recently rejected a proposal (HB1184) that would have allowed investment in crypto and precious metals, with the bill failing in a 32-57 vote on January 31.