After four years of waiting, the long-awaited project Bitcoin (CRYPTO:BTC) the halving finally took place on April 19. This promises to be yet another watershed moment in Bitcoin history. Indeed, each new halving cycle usually results in a new bull market rebound for Bitcoin, as well as another all-time high.
But Bitcoin is not the only one to be the big winner of the Bitcoin halved. Three other big winners include Global Coinbase (NASDAQ:COIN), MicroStrategy (NASDAQ:MSTR)And black rock (NYSE:BLK). Let’s take a closer look.
Global Coinbase
The obvious winner, of course, is Coinbase. First, the start of a new bull market rally for Bitcoin could lead retail investors to return to the company’s cryptocurrency trading platform, increasing Coinbase’s transaction-related revenue. And since a rise in the price of Bitcoin is traditionally beneficial to the broader crypto market, it is likely that trading in many, if not all, of the more than 245 cryptocurrencies currently listed on exchanges will increase.
And don’t forget the effect of the halving cycle on investor appetite for new spot Bitcoin ETFs. Clearly, investors will not turn to Coinbase to trade these new ETFs. But here’s the thing: Coinbase is the custodian for eight of the 11 new Bitcoin spot ETFs. So, indirectly, Coinbase will benefit from investors deciding to purchase these new Bitcoin ETFs for cash. The more money that flows into spot Bitcoin ETFs, the more money Coinbase could make from custodial fees.
MicroStrategy
Although MicroStrategy is ostensibly an enterprise software company, it is best known as the largest Bitcoin holding company in the world. The company has been on a Bitcoin buying spree since mid-2020 and currently holds over 214,000 bitcoins on its balance sheet. This represents more than 1% of all Bitcoin in circulation. At the current Bitcoin price of $66,000, these holdings are worth $14 billion, or about 60% of the total value of MicroStrategy itself!
MicroStrategy shows no signs of slowing down its Bitcoin acquisition strategy. The company’s founder and executive chairman, Michael Saylor, is known as one of the world’s biggest Bitcoin bulls, and he has been very transparent about his desire to own as much Bitcoin as possible. In fact, his company recently offered two new debt offerings, both with the express purpose of – you guessed it – buying more Bitcoin. If you’re looking for a Bitcoin proxy stock, look no further than MicroStrategy.
black rock
Finally, there is BlackRock, the world’s largest asset manager, with over $10 trillion in assets under management. The company is the issuer of the iShares Bitcoin Trust (NASDAQ:IBIT), the most popular of the new spot Bitcoin ETFs launched in January. In just over three months, the ETF went from 0 to $17 billion in assets under management. And you can expect this figure to increase even more as the price of Bitcoin rises.
