- Goldman Sachs has announced a $500 million Bitcoin bet that diversifies across major ETFs.
- Michael Saylor’s MicroStrategy owned 226,500 BTC, highlighting Bitcoin’s growing appeal to businesses.
Like Bitcoin [BTC] approaches the $60K markexciting news has emerged from the cryptocurrency world.
Goldman Sachs’ Bitcoin Holdings Revealed
Dennis PorterCEO and co-founder of SatoshiActFund, recently announced on Twitter that Goldman Sachs has announced a significant $500 million stake in Bitcoin.
He added:
“Even the bankers can’t resist Bitcoin.”
Porter also provided a detailed analysis of Goldman Sachs’ Bitcoin holdings.
According to a quarterly report 13F applicationGoldman Sachs has positions in seven of the eleven Bitcoin ETFs available in the US
The bank’s largest investment is in the iShares Bitcoin Trust (IBIT), with a significant stake of $238.6 million.
This is followed by Fidelity’s Bitcoin ETF (FBTC) at $79.5 million, Invesco Galaxy’s BTC ETF (BTCO) at $56.1 million, and Grayscale’s GBTC at $35.1 million.
Goldman Sachs also has smaller stakes in BITB, BTCW and ARKB, reflecting a broad and strategic approach to Bitcoin investing.
Source: Dennis Porter/X
Bitcoin ETF update
Meanwhile, Bitcoin ETFs experienced a notable influx of capital on August 13, with a total inflow of $39 million according to Farside Investors.
Leading the charge was BlackRock’s IBIT, which saw substantial inflows of $34.6 million. Fidelity’s FBTC followed suit further with $22.6 million, while Bitwise’s BITB attracted $16.5 million.
In contrast, Grayscale’s GBTC faced outflows totaling $28.6 million, followed by ARK 21Shares’ ARKB totaling $6.1 million. The other ETFs saw no significant changes.
This difference in ETF performance highlights the changing investor sentiment within the Bitcoin market.
Michael Saylor’s BTC holdings exposed
That said, Goldman Sachs isn’t the only major player to reveal its Bitcoin holdings. Michael Saylor, co-founder and chairman of MicroStrategy, recently announced that he owns 17,732 BTC.
Particularly Saylor emphasized that he kept all these digital assets, without selling any of them.
“I keep acquiring more and more. I think it is a great capital investment for an individual, family, institutional company or country. I can’t think of a better place to put my money.”
In addition to Michael Saylor’s personal Bitcoin stash, MicroStrategy owns 226,500 BTC, worth approximately $12.7 billion, making it the largest public corporate Bitcoin holder.
What has changed?
This landscape underlines how Bitcoin ETFs have transformed Bitcoin and the broader crypto market. Still, this is in stark contrast to Goldman Sachs’ previous position on digital assets.
In April, Sharmin Mossavar-Rahmani, Chief Investment Officer of Goldman Sachs Wealth Management for the past 23 years, reiterated the Wall Street Journal and said:
“We don’t think it is an asset class. We don’t believe in crypto.”