BlackRock's Bitcoin ETF Just Overtook Michael Saylor's MSTR — Now Holds Nearly 700,000 BTC - BlackRock (NYSE:BLK)

BlackRock Inc.‘s BLK iShares Bitcoin Trust IBIT has surpassed Strategy Inc.‘s MSTR Bitcoin BTC/USD holdings, accumulating nearly 700,000 BTC worth approximately $75.8 billion and capturing 3.32% of Bitcoin’s total supply, according to Bitcoin Treasuries data.

What Happened: The milestone marks a significant shift in corporate Bitcoin ownership after just 18 months of trading. ETF Institute Co-Founder Nate Geraci called the achievement “ridiculous” in a Monday X post, highlighting IBIT’s rapid accumulation pace.

New milestone…

iShares Bitcoin ETF now holds over 700,000 btc.

*700,000*

Did this in 18 months.

Ridiculous.
— Nate Geraci (@NateGeraci) July 8, 2025

MicroStrategy, led by Executive Chairman Michael Saylor, holds 597,325 BTC valued at $64.8 billion with an average cost basis of $70,982 per coin. The business intelligence firm pioneered the corporate Bitcoin treasury strategy and maintains $22.6 billion in unrealized profits from its $42.4 billion investment.

Why It Matters: IBIT now generates an estimated $187.2 million in annual fees, surpassing revenue from BlackRock’s Core S&P 500 ETF, according to VanEck‘s Head of Digital Assets Research Matthew Sigel. The Bitcoin ETF commands 55% of the Bitcoin ETF market share with over $52 billion in cumulative inflows.

MicroStrategy announced Monday a $4.2 billion at-the-market offering of Series A Perpetual Stride Preferred Stock to fund additional Bitcoin purchases. The move is part of the company’s expanded “42/42” capital plan targeting $84 billion in Bitcoin acquisitions by 2027, which is 38% complete.

The corporate Bitcoin landscape continues evolving as Japanese tech company Metaplanet recently surpassed Coinbase Global Inc.‘s COIN holdings with 10,000 BTC, demonstrating growing institutional adoption beyond traditional treasury strategies.

Read Next: