Goldman Sachs Raises BlackRock Bitcoin Trust Stake to $1.4B Amid JPMorgan, MicroStrategy, Beat Holdings Crypto Moves
By: defi news|2025/05/12 12:45:04
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Goldman Sachs has increased its stake in BlackRock's iShares Bitcoin Trust (IBIT) by 28%, now holding 30.8 million shares valued at approximately $1.4 billion, alongside an additional $250 million in FBTC shares, according to SEC filings. BlackRock currently holds $67 billion worth of crypto assets in its portfolio and has stated that Bitcoin will soon be too risky not to own. Institutional investment in crypto continues to grow, with CoinShares reporting $882 million in digital asset inflows last week, marking the fourth consecutive week of inflows. Bitcoin led with $867 million in inflows, while U.S. crypto ETFs have reached a record $62.9 billion in cumulative inflows year-to-date. JPMorgan has also increased its investments in Bitcoin ETFs to $1.7 billion. Japanese financial firm Beat Holdings raised its Bitcoin and ETF investment ceiling to $34 million and has drawn $2.8 million from a credit facility to support further purchases. MicroStrategy, led by Michael Saylor, holds a Bitcoin position with an unrealized profit of $20 billion. Saylor has advocated for nations to print their own currency to buy Bitcoin, a strategy he believes will lead to substantial returns. Additionally, Coinbase anticipates the U.S. government may soon purchase $100 billion worth of Bitcoin, while VanEck projects sovereign nations will aggressively buy and use Bitcoin, potentially driving its price to $3 million. Senator Lummis has indicated that President Trump supports her bill to purchase 1 million Bitcoin. Prominent figures such as Jack Dorsey have predicted Bitcoin will replace the financial system.This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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