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BlackRock Invests Nearly $400 Million in Bitcoin Mining Firms

MicroStrategy buys bitcoin

According to a U.S. Securities and Exchange Commission (SEC) filing, the multinational investment manager BlackRock has been revealed to have invested nearly $400 million into two Bitcoin mining firms — Riot Blockchain and Marathon Digital Holdings.

Bitcoin is an interesting asset. I think it’s durable. I think it will be part of the investment arena for years to come.

 

Rick Rieder, Chief Investment Officer at BlackRock

The filing states that BlackRock owns a 6.71% stake in Marathon Digital Holdings (MARA) and a 6.61% stake in Riot Blockchain (RIOT). These were bought for roughly $384 million.

On the report of Etf.com, BlackRock’s iShares Russell 2000 ETF holds more shares in Riot and Marathon than other ETFs.

BlackRock has already made some digital asset investments prior to this. Its BlackRock Global Allocation Fund had purchased 37 BTC futures contracts from Chicago Mercantile Exchange back in April.

 

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