Blackstone Invests in Bitcoin: Major Firm Embraces Crypto Market

Global financial giant Blackstone has taken a major leap into the world of cryptocurrency. The firm’s recent SEC filing revealed it acquired a modest stake in the iShares Btc Trust (IBIT), valued at $1.08 million. This marks Blackstone’s first foray into crypto investing, reflecting a growing trend among traditional finance firms to explore digital assets. 23,094 shares of the IBIT ETF, part of the firm’s Alternative Multi-Strategy Fund (BTMIX), were purchased, holding a tiny piece of Blackstone’s overall $1.2 trillion portfolio. This move signals a strategic shift as traditional financial companies are increasingly drawn to Bitcoin and other digital assets.