BlackRock Sells, Strategy Acquires: Latest Trends Among Bitcoin Whales

The management firm BlackRock, which offers a BTC ETF under the ticker IBIT, has reduced its Bitcoin position by approximately $430 million. This sale was partially offset by the purchase of 705 BTC (around $75 million) by the company Strategy, according to Arkham Intelligence.

Experts noted that BlackRock holds coins valued at $68.9 billion, while Michael Saylor’s corporation has $60.59 billion in assets.

Prior to the recorded transaction by Arkham Intelligence, there had been an inflow of funds into IBIT for 34 consecutive days.

On June 2, the net outflow from BTC ETFs continued for the third day, amounting to $267.5 million.

Total inflows have decreased to $44.1 billion, and the assets under management (AUM) fell to $125.47 billion.

On June 2, a net inflow of funds into spot ETH ETFs was recorded at $78.17 million, marking the 11th consecutive day of positive movement.

Total inflows rose to $3.12 billion, with AUM reaching $9.37 billion.

On the same day, Strategy announced a proposed issuance of 2.5 million Series A preferred shares with a non-cumulative dividend yield of 10% per annum, with the raised funds intended for purchasing Bitcoin.

The securities will be named Stride (STRD).

Previously issued preferred shares were named Strike (STRK) and Strife (STRF), offering dividend yields of 13% and 10% per annum, respectively.

Strategy reserves the right to buy back all STRD shares at any time with cash, should the total number of outstanding shares fall below 25% of the total issued shares of this series throughout all issuances.

The corporation also cited «certain tax events» as a condition for the buyback.

Following the latest Bitcoin purchase, the yield on the coins held on the balance sheet since the beginning of the year stood at 16.9%, against a target of 25%.

Jess Myers from Moon predicted that the share of Bitcoin held by public companies could rise to 50% by 2045.

According to Bitwise, by the end of 2026, Bitcoin reserves held by institutional players, including governments and corporations, will reach 20% of the total supply of the cryptocurrency (approximately 4.2 million BTC).

Bernstein forecasted that Bitcoin reserves of companies could reach $330 billion by 2029.

It is worth noting that a user named Lowstrife expressed concerns that such significant scaling of Bitcoin purchases by Strategy could ultimately lead to the «collapse» of the entire structure.

Previously, Arkham specialists tracked 87% of the Bitcoin holdings of Strategy.