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?

Item BlackRock Strategy (formerly MicroStrategy)

Amount of Bitcoin (BTC)	669.523 BTC	592.100 BTC
Estimated Value in USD	US $ 71,41 billion	US $ 63,3 billion
Acquisition Strategy	Via ETF (iShares Bitcoin Trust – IBIT)	Direct Corporate Treasury
Last Purchase Disclosed	$1,1 billion in BTC in the last few weeks	10.100 BTC for $1 billion
Average Price of Last Purchase	Not disclosed	$104.080 per BTC
Income in 2025	Not specified	19,1% accumulated so far
Strategic Goal	Manage $50 billion in digital assets by 2030	Achieve 25% return on BTC by the end of 2025
Investment Structure	Exchange Traded Fund (ETF)	Bitcoin-Backed Preferred Shares (e.g. STRD)
Position in the Institutional Ranking	1st place in volume of BTC held	2nd place, just behind BlackRock
Share of Total Bitcoin Supply	Part of the 6% agreed between the two companies	Part of the 6% agreed between the two companies

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.