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A tale of two Bitcoin whales
Charting $IBIT versus $MSTR digital gold holdings
BlackRock’s flagship Bitcoin fund has quickly overtaken MicroStrategy to stack ~575K BTC worth nearly $50B today.
Collectively, custodial ETFs and corporates have stacked more than 1M Bitcoin (which is programmed to be scarce at 21M max). Together, other publicly-traded companies and ETFs such as Fidelity and Tesla hold nearly 2M bitcoins.
Despite quickly overtaking by BlackRock’s key gold ETF, however, physical bitcoin (a.k.a. gold) has been regaining dominance. $IAU has been moving to record highs in assets under management while gold soars. Notably, its recent price rise shows gold’s value has excelled over millennia.
Especially when priced (and previously backed) in gold — which is inherently scarce — whereas fiat currencies are not. Bitcoin has vitalized gold’s key properties on the Internet. In fact, Bitcoin is much easier to transfer globally and hold non-custodially.
Although gold can be used in semiconductors and a key contender with gold and BTC to define the future of money. Gold’s estimated “market cap” is more than $20T today…
