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Leading Institutions Like BlackRock and Metaplanet Boost Bitcoin Holdings
Financial institutions such as BlackRock and Metaplanet are making significant strides in their Bitcoin acquisition strategies, painting a promising picture for the premier cryptocurrency. Despite their efforts, Bitcoin (BTC) has not yet surpassed its all-time high (ATH) due to prevailing factors such as global tariffs and the selling activities of long-term holders.
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BlackRock and Metaplanet’s Impressive Bitcoin Accumulation
According to data from SosoValue, BlackRock has now exceeded the 700,000 BTC mark, managing $76.35 billion in assets under management (AuM). This impressive holding represents 3.5% of Bitcoin’s total supply of 21 million coins. BlackRock’s Bitcoin ETF has outpaced Michael Saylor’s strategy, becoming the second-largest Bitcoin holder, trailing only Satoshi Nakamoto.
Remarkably, BlackRock reached this milestone in under two years following the launch of its Bitcoin ETF. Bloomberg analyst Eric Balchunas commented on this achievement, highlighting that BlackRock holds 700,000 BTC and is on track to surpass Satoshi with continued accumulation. The asset manager is reportedly acquiring an average of 40,000 BTC monthly, equating to 1,300 BTC daily. If this trend continues, BlackRock could potentially amass 1.2 million BTC by May 2026.
In addition to BlackRock, Metaplanet is another major player in the Bitcoin market, actively increasing its Bitcoin reserves. CEO Simon Gerovich shared that Metaplanet acquired 2,205 BTC for $238.7 million, with an average purchase price of $108,237 per Bitcoin, yielding a 416.6% return year-to-date. The company now holds 15,555 BTC, secured at an average price of $99,307 per Bitcoin.
Data from BitcoinTreasuries reveals that Metaplanet ranks as the fifth-largest Bitcoin treasury company, following Strategy, MARA, Twenty One Capital, and Riot Platforms. Other firms, including MARA Holdings, Semler Scientific, and ProCap BTC, have also expanded their Bitcoin holdings, indicating robust demand for the cryptocurrency.
Factors Keeping Bitcoin Below Its All-Time High
Several macroeconomic factors, such as recent tariff policies, are hindering Bitcoin’s potential price rally. For instance, former U.S. President Trump’s trade policies have introduced uncertainty into the market. His recent announcements of reciprocal tariffs on 14 nations, including Japan and South Korea, are slated to commence on August 1. Trump has made it clear that there will be no extensions to this trade deadline.
Consequently, Bitcoin’s price has retracted from its weekly peak above $109,000, with potential risks of new weekly lows. The cryptocurrency also faces selling pressure from long-time holders, counteracting the buying momentum from institutional investors.
Bloomberg reports that early Bitcoin adopters have offloaded over 500,000 BTC in the past year, a figure that mirrors the net inflows from Bitcoin ETFs during the same timeframe. Furthermore, a recent transaction involving 80,000 BTC by an early adopter has raised concerns about potential sell-offs.
Currently, Bitcoin is trading at approximately $108,600, showing a slight increase over the past 24 hours according to CoinMarketCap data.
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