Who will have the most Bitcoin in 2025? BlackRock and MicroStrategy compete

• MicroStrategy accumulates over 592 thousand Bitcoins
• BlackRock surpasses with 669 thousand BTC via ETF
• Institutions control 6% of the total Bitcoin supply

The dispute between large financial institutions for the largest volume of Bitcoin (BTC) continues intense. According to recent data, MicroStrategy, now called just Strategy, and BlackRock are close in their institutional holdings, moving billions in the cryptocurrency market.

Strategy currently holds approximately 592.100 BTC, valued at over $63,3 billion. BlackRock controls approximately 669.523 BTC, with a market value of over $71,4 billion, through its iShares Bitcoin Trust (IBIT).

Strategy’s most recent purchase was for 10.100 Bitcoins, with an investment of $1 billion at an average price of $104.080 per unit. The acquisition came amid a period of intense volatility, when Bitcoin fell from $110.000 to a weekly low of $103.639, following heightened geopolitical tensions between Israel and Iran.

Who has the most Bitcoin in 2025?

With this movement, Strategy's return in 2025 reached 19,1%, approaching the target established by the company, which is to reach 25% by the end of the year.

Meanwhile, BlackRock has continued its expansion trajectory, acquiring around $1,1 billion worth of Bitcoin in recent weeks. The manager is focused on strengthening its IBIT fund, with a stated ambition to become the world’s largest digital asset manager by 2030, with at least $50 billion in crypto assets under management.

The acquisition strategies of the two institutions are distinct. Strategy uses Bitcoin as its main corporate treasury asset, under the leadership of Michael Saylor, and has been structuring instruments such as the third series of preferred shares backed by Bitcoin (STRD), with the goal of raising US$250 million for new purchases.

On the other hand, BlackRock is betting on the ETF structure, allowing institutional and retail investors to indirectly participate in the appreciation of Bitcoin through shares in the traditional financial market.

Currently, together, BlackRock and Strategy control more than 1,3 million Bitcoins, which represents about 6% of the entire supply in circulation, a milestone that reinforces the advancement of institutional adoption in cryptocurrencies.