BlackRock Boosts Stake in Strategy to 5% Amid Crypto Focus

BlackRock, the world's largest asset manager, has increased its stake in MicroStrategy, now known as Strategy, to 5%. According to a 13G filing, BlackRock holds approximately 11.2 million shares, representing a 0.91% increase from the 4.09% reported on September 30, 2024.

Strategy's Perpetual Preferred Stock (STRK) rose 2% on its Nasdaq debut day, with a trading volume of over 650,000 shares. The stock continued to rise 5% in pre-market trading. BlackRock's filing date was December 31, 2024, requiring it to disclose its holdings by February 14, 2025.

The increase in BlackRock's stake in Strategy comes as the company continues to expand its presence in the technology sector. Strategy, previously known for its business intelligence software, has been focusing on cryptocurrency and blockchain technology in recent years.

The rise in Strategy's stock price and BlackRock's increased investment suggest growing confidence in the company's strategic direction. As a leading global investment firm, BlackRock's involvement may also signal a broader trend of institutional investors embracing cryptocurrency and blockchain technology.

However, it is essential to note that the cryptocurrency market remains volatile, and investments in this sector carry significant risks. As such, investors should carefully consider their risk tolerance and conduct thorough research before making any investment decisions.