It has been suspected for months but it was actually confirmed yesterday that even the world’s largest asset manager may have acquired bitcoin exposure, or has already acquired it.
One of the leaders of BlackRock, which manages $ 8700 billion, revealed in a TV interview that he thinks it is completely understandable for someone to include digital gold in their own investment portfolio and that BlackRock itself, as he put it, tastes the subject. The director of the company already referred to BTC as a competitor to the dollar and gold last year, so it could easily be that aperitifen may have been beyond BR’s dealers for some time.
If the company invested only 0.1% of the assets it manages in bitcoin, that would also mean $ 8.7 billion, the highest value purchase ever.
The top holder so far is Tesla, which entered last week, investing 7.5% of its corporate cash reserves, $ 1.5 billion, in BTC. MicroStrategy is just a little behind them, but the software company, which so far has “only” $ 1.3 billion in bitcoin exposure, could cross the two billion milestone in just a few days.
Returning to the purchase of Tesla, new details about the case came to light yesterday. Based on internal sources, Coinbase's large investor group, Tagomi, may have helped Elon Muske make the transaction run smoothly, but the informant said Tagomi may have managed the bitcoin investments of 5 other Fortune 500 companies that have so far requested anonymity.
(Fortune 500: ranking of the top 500 U.S. companies in the last fiscal year.)
And the example of Motley Fool can prove how worthwhile it is to take bitcoin lightly. A financial advisory firm known in the United States yesterday announced that it considers it a trusted custody tool and is therefore investing $ 5 million in BTC. However, in connection with the news, their analysis published 8 years ago, in which they stated the opposite and called the leading cryptocurrency dangerous, also came to lightning speed.
Of course, let's not be unsportsmanlike. In 2013, very few had seen $ 50,000 in bitcoin, but it could be that if Motley was a little more open to the subject 8 years ago, their $ 5 million would already be worth $ 2.5 billion. (1 BTC was only worth $ 100 at the time of publishing their study.)
But to be more than just such a remote benchmark, those who bought bitcoin for themselves at the 2017 peak and persevered so far have now been able to outperform the benchmark SP500 stock index by 3.5 times (160% vs. 46%) and by 4.1 times the yield of gold (160% vs. 39%) since then.
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