BlackRock, Grayscale, Fidelity, and MicroStrategy HODL Their Way Through Crypto Market Bloodbath

The cryptocurrency industry is reeling from a broad financial market crash Sunday night that triggered hundreds of millions in liquidations in the past 24 hours, and while crypto holders announce their selloffs, some companies and financial titans are keeping their cool.

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A broad financial market crash triggered hundreds of millions in crypto liquidations Sunday night, and while some HODLers announced their selloffs, others kept their cool.

The crypto market crash comes a few weeks after BlackRock CEO Larry Fink changed his tune on Bitcoin, going from a “proud skeptic” to a believer in the digital coin.

Grayscale, another investment leader that launched supposed rivals to BlackRock's spot $BTC and $ETH exchange-traded funds (ETFs), has been struggling to get retailers to choose its ETFs over BlackRock's and other issuers'.

Several institutional ETF holders diversified their portfolios, and a significant number of them, including Millennium Management and Susquehanna, added Fidelity's $FBTC to their 13F filings.

Tech company MicroStrategy, which announced earlier this year it was transitioning to a "Bitcoin development company," bought the dip in June, when the digital coin dropped from $65,000 to $64,000 lows. It is widely acknowledged as the crypto industry's prime example of a HODLer.

After crashing Sunday night, the world's two top digital assets bounced back gradually. $BTC is back to $55,000 after it hit $49,000 at one point, while Ether is trading at around $2,500 after plunging to $2,100 Sunday.

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