BlackRock’s Bitcoin Bet Tops $5B—Wall Street Plays Catch-Up With Crypto

BlackRock just flashed a $5 billion crypto flex—proving even the old guard can’t ignore Bitcoin’s gravitational pull. The world’s largest asset manager quietly stacked more BTC in Q1, turning its cold feet into a full sprint toward digital gold.

Institutional FOMO goes mainstream

While Jamie Dimon still trash-talks Bitcoin at JP Morgan shareholder meetings, his clients are clearly voting with their wallets. BlackRock’s swelling crypto coffers signal a tectonic shift—Wall Street’s ’skeptical observer’ phase is over.

The irony isn’t lost

Same firms that dismissed crypto as ’rat poison’ now scramble to secure seats on the blockchain bandwagon. But hey, when the printing presses keep running, even the suits finally understand hard-capped supply.

One question remains: how long until BlackRock starts charging 2% fees for ’digital asset exposure management’?

At the same time, the firm increased its exposure to companies with direct ties to Bitcoin.

The asset management firm increased its stake in Strategy (formerly MicroStrategy) to over 14.4 million shares during the quarter. The firm also acquired more than 620,000 of MicroStrategy’s Series A preferred shares and nearly 15 million shares across two of the company’s commercial notes.

These positions bring BlackRock’s total exposure to Strategy to over $4.23 billion.

Meanwhile, BlackRock also deepened its positions in Bitcoin mining companies, pushing its investments in these cohorts to almost $1 billion, with investments in Riot Platforms, Marathon Digital, TeraWulf, and others.