When it comes to owning Bitcoin, two big players are making a splash: BlackRock, the biggest asset manager out there, and Binance, the top cryptocurrency exchange in the world. The competition between these two to have more Bitcoin is just as exciting as watching Bitcoin prices increase. This article tells how much Bitcoin each of them has and who owns the bigger crypto stash.
BlackRock’s Bitcoin Strategy
BlackRock has been stirring things up in the crypto market since it jumped into Bitcoin back in 2021 with its Bitcoin ETF (Exchange-Traded Fund). Through the iShares Bitcoin Trust, they’ve become one of the largest institutional Bitcoin holders. The Trust allows investors to have access to Bitcoin without directly buying it.
As of September 2024, BlackRock holds around 365,310 BTC, valued at roughly $24.04 billion. The company recently added another 1,684 BTC in September 2024, further strengthening its position on the top. BlackRock’s methodical accumulation shows that the firm is taking Bitcoin as a long-term bet. It might be seen as a hedge against inflation or economic uncertainty.
BlackRock isn’t only holding Bitcoin for the fun of it—they’ve got a smart strategy in mind. They’re trying to put Bitcoin on the same level as traditional safe-haven assets like gold. Robbie Mitchnick, the head of digital assets at BlackRock, pointed out how Bitcoin is a lot like gold because it’s decentralized and scarce, which makes it a “non-sovereign asset” free from government risk. They’re calling Bitcoin the “digital gold” of the future.
Binance’s Crypto Clout
While BlackRock is playing the big institutional moves, Binance is doing its own thing. As the largest crypto exchange in the industry, Binance primarily helps people buy, sell, and trade Bitcoin. Most of the Bitcoin they hold is from customer deposits. When users store their Bitcoin on Binance, it’s like putting it in a giant digital vault that Binance holds custody over.
Binance hasn’t stated exactly how much Bitcoin they own, but estimates are around 600,000 BTC. That’s a huge amount and way more than what BlackRock has. They need that kind of stash to keep things running smoothly for all their millions of users worldwide.
But just a heads up—Binance doesn’t own all that Bitcoin. A big chunk of it is held for their customers. So, while Binance can call themselves a “holder,” it’s the people who are the true owners of these crypto coins.
How Do Their Bitcoin Holdings Compare?
On paper, Binance clearly holds more Bitcoin than BlackRock’s iShares Bitcoin Trust. Binance’s 600,000 BTC is nearly double BlackRock’s 365,310 BTC. However, this comparison is similar to comparing apples to oranges—BlackRock holds Bitcoin for investment purposes, but Binance’s asset is a mix of exchange operations and user-held funds.
It’s crucial to think about why these big players are in the game. BlackRock sees Bitcoin as a serious investment, like a future savings account for everyone. Meanwhile, Binance needs to keep money flowing to keep the trading action going. Instead of simply asking “Who owns more Bitcoin?”, we should be looking at how their moves affect the trading market. If either of them starts selling off or going on a buying spree, it might result in serious ripples through the crypto market.
Why Does This Matter for the Crypto Market?
Let’s face it, when major institutions like BlackRock and massive exchanges like Binance make their moves, the market listens. The amount of Bitcoin held by these entities gives them massive influence. Should BlackRock or Binance decide to dump large quantities of Bitcoin on the open market, prices could plummet, which will create a lot of panic. On the other side, continuous accumulation (like what we see from BlackRock) lends Bitcoin legitimacy and can drive prices higher with the increase in demand.
In fact, BlackRock’s consistent Bitcoin purchases, even during market dips, act as a stabilizing force. It’s almost like they’re playing the role of the “grown-up” in the room, preventing Bitcoin from going completely haywire. Binance, meanwhile, provides the much-needed infrastructure for the coin’s trading all over the world. Their ability to hold large amounts of Bitcoin ensures they can keep offering liquidity to traders without any issues.
Who Owns the Most Bitcoin Right Now?
Even though BlackRock and Binance are big players in the Bitcoin scene, they’re not the biggest holders. That honor still goes to Satoshi Nakamoto, the mysterious creator of Bitcoin, who is thought to own roughly 968,452 BTC. Then there are other notable “whales” like MicroStrategy, sitting on 252,220 BTC, and Grayscale, which has about 258,671 BTC.
And it’s not only companies interested in joining the party—governments are jumping into the Bitcoin pool too. For example, China owns around 190,000 BTC, and El Salvador, the first country to make Bitcoin legal tender, holds about 5,800 BTC.
The Takeaway
So, does BlackRock own more Bitcoin than Binance? No, at least not yet. Binance’s Bitcoin stash is nearly double that of BlackRock’s iShares Bitcoin Trust. However, they serve very different purposes—BlackRock is an institutional player looking to profit from Bitcoin’s future growth, while Binance is the powerful well-established exchange that is working to Bitcoin access to millions of people globally.
Regardless of the numbers, the fact that both BlackRock and Binance share such huge amounts of Bitcoin is evidence of Bitcoin’s growing mainstream acceptance. And who knows? In a few years, maybe we’ll be comparing BlackRock’s Bitcoin holdings with entire countries. Until then, we can say that the race for Bitcoin dominator between BlackRock and Binance is far from over.
Disclaimer
The information provided in this article is only for educational and informational purposes and should not be considered financial or investment advice. We are not licensed financial advisors. Always conduct your research and seek guidance from a certified financial professional before making any investment decisions.
