Here's how BlackRock and other heavyweights are 'buying the dip' over recent months of $BTC price plunge
Their authors tracked the activity of two heavyweight asset management firms, BlackRock and Fidelity, plus Bank of America, in terms of their exposure to MSTR, the largest corporate holder of Bitcoin .
For corporations that are not interested in buying Bitcoin directly, MSTR shares usually serve as a reliable proxy investment to get exposure to Bitcoin price performance.by CNN, in recent months, Fidelity increased its exposure to MSTR more than sevenfold. Bank of America also increased its MSTR share through BofA Securities Inc. Its stake size spiked by over 47,000%, asAlso, MSTR stocks are aggressively accumulated by the largest Canada banks and investment platforms from all over the globe.
According to statistics by Bitcoin Treasuries, the most reliable tracker of BTC bags of publicly traded companies, governments and investing conglomerates, institutions are currently responsible for 1,652,703 Bitcoins in total, which is equal to 7.87% of its net supply. However, almost all of the largest Bitcoin holdings on this list are losing money so far. Only three out of 10 of the top corporate holders of Bitcoin — Bitcoin Group SE, Bigg Digital Assets and Advanced Bitcoin Technologies AG — managed to benefit from investing in Bitcoin .
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