BlackRock owns more Bitcoin than MicroStrategy while South-Korea is going crypto crazy

Blackrock, the largest investment fund in the world, two months after the launch of its Bitcoin Exchange Fund called IBIT, already owns more Bitcoins than MicroStrategy. MicroStrategy was until recently the largest ‘corporate whale‘, so to speak.

In South Korea, crypto trading on Sunday exceeded stock trading on Friday.

BlackRock is a major Bitcoin whale

Bitcoin continues to pile up records and topped $72,000 yesterday. The appetite of investors is so great that ‘boomers’ have now also stepped in.

They mainly invest by buying shares through BlackRock, as it turns out, because Larry Fink’s investment fund has already purchased more Bitcoins in two months than Michael Saylor’s MicroStrategy.

NEW: BlackRock overtakes MicroStrategy in the competition for largest #Bitcoin stack 😮 pic.twitter.com/kBZoqvmFa7

— Bitcoin News (@BitcoinNewsCom) March 9, 2024

BlackRock’s advertising for their Bitcoin fund, which we find so boring, appears to be catching on.

South Korea

It is sometimes said that Seoul in South Korea and Tokyo and Japan have been the driving force behind altcoins for years. Couple this with the boomers in the United States who have arrived since 2024 into crypto and you have a firm understanding of the current market forces playing out.

The trading volume that coins like Bitcoin, Ether and Solana experience whenever South Koreans wake up is incomparable to any other country.

Historically, South Korea’s Millennials have been the largest fan base for Bitcoin and crypto. When Bitcoin rose to $20,000 for the first time in December 2017, many young people in South Korea experienced FOMO. Some thought they would make fortunes but the government warned of Bitcoin’s instability and advised them to sell as quickly as possible. Bitcoin became an official talking point for the South Korean government.

In South Korea, the daily trading volume of crypto exchanges has surpassed that of the KOSPI, the country’s main stock market. One of the strongest indications that we are starting to enter a bull market.

— Simon Kim (@simonkim_nft) March 10, 2024

Young people did as they were told and sold, the price of Bitcoin collapsed but many sold at a loss. These same young people now see that Bitcoin rose to $70,000 in 2024 and still blame their government for not being able to HODL.

South Korea saw more crypto trading on Sunday (about $9 billion) than was done on local stock exchange Kospi on Friday (about $8.7 billion). An unbelievable record.

South Koreans mainly invest in [Shiba Inu (SHIB)](/en/blog/buy-shiba-inu/), Space id (ID) and Bitcoin (BTC).