The race between Strategy and BlackRock for Bitcoin accumulation sent the asset above $95,500.
The $11 trillion asset manager BlackRock and the business intelligence company Strategy (formerly MicroStrategy) brought bullish momentum to the crypto market with their latest buying spree.
On April 28, Strategy chair Michael Saylor announced that the company acquired 15,355 Bitcoin BTC $70 144 24h volatility: 0.2% Market cap: $1.40 T Vol. 24h: $39.05 B , worth $1.42 billion.
$MSTR has acquired 15,355 BTC for ~$1.42 billion at ~$92,737 per bitcoin and has achieved BTC Yield of 13.7% YTD 2025. As of 4/27/2025, we hodl 553,555 $BTC acquired for ~$37.90 billion at ~$68,459 per bitcoin. https://t.co/5OOs3UdWLg
— Michael Saylor (@saylor) April 28, 2025
This brings the total Strategy holdings to 553,555 BTC at an average price of $68,459 per coin for $37.9 billion.
Currently, Strategy’s Bitcoin holdings are worth $52.5 billion.
In the meantime, BlackRock’s US-based BTC exchange-traded fund recorded an inflow of $970.9 million on April 28. The IBIT fund has recorded a cumulative net inflow of $42.2 billion since its launch in January 2024.
Spot BTC ETFs saw a net inflow of $591.3 million due to the outflows from ARKB ($226.3 million), FBTC ($86.9 million), GBTC ($42.7 million), BITB ($21.1 million), and HODL ($2.7 million).
The total net inflow into BTC-based investment products surpassed $39 billion, thanks to strong inflows into IBIT.
According to data from Arkham, BlackRock has accumulated 582,614 BTC, worth $55.17 billion, to date.
Last week, spot BTC ETFs recorded a net inflow of over $3 billion as US President Donald Trump hinted at cooling down the trade war with China.
Bitcoin or Altcoins?
As the Strategy and BlackRock accumulation came, Bitcoin broke the $95,500 mark for the first time since Feb. 24.
The leading cryptocurrency is currently trading at $94,900.
Bitcoin’s bullish momentum brought optimism to the broader crypto market as well. The global cryptocurrency market cap increased by 0.25% to $2.97 trillion, according to CoinMarketCap data.
Now, traders are shifting focus to altcoins and meme coins, with social discussions hinting at the altseason.
However, Santiment data shows that when traders start to heavily mention altcoins and altseason on social platforms, it’s usually a sign of a market top.
🥳 Traders are proclaiming that altseason is here (or around the corner). With last week's Bitcoin surge rapidly seeing profit redistribution into more speculative assets, we take a look at the $TRUMP promotion and retail's renewed meme coin excitement. 👇https://t.co/75TTa9PmuF pic.twitter.com/GMBQgfVcuO
— Santiment (@santimentfeed) April 29, 2025
The market intelligence platform’s analyst claims that “markets consistently move [in] the opposite direction of retail’s expectations”.
Historically, bullish momentum triggered by social hype has proven to be short-lived.
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