According to a filing with the Securities and Exchange Commission, Capital International Investors (CII), a major US asset management firm Capital Group division, has purchased 12.2 percent common stocks of NASDAQ-listed MicroStrategy (NASDAQ: MSTR). MicroStrategy, founded in 1989, is a business intelligence company. But the company grabbed headlines because of its massive investments in Bitcoin and is seen as a publicly-traded alternative to direct investments in Bitcoin.
CII has purchased 953,242 MicroStrategy common stocks.
According to the filing with SEC, which is dated June 30 but signed off by Capital Group Senior Vice President Walter Burkley on Monday, shows that CII has purchased 953,242 MicroStrategy common stocks out of the total 7,782,568 outstanding shares. MicroStrategy became the first publicly listed company that purchased $250 million worth of Bitcoin and added it to its balance sheet last year, setting the trend in the industry. But the company did not stop there and continued to invest more and more in the leading cryptocurrency, bitcoin.
The firm raised close to $500 million in debt offering solely to buy Bitcoins.
Recently, the business intelligence firms raised close to $500 million in debt offering solely for the purpose of buying Bitcoins. The company now holds more than 105,000 Bitcoins in its reserves, which is valued at around $3.5 billion. MicroStrategy’s investment in Bitcoin also pushed other major public companies like Tesla and Square to purchase the cryptocurrency. MicroStrategy’s founder and CEO, Michael Saylor, is also very bullish on Bitcoin’s future and is vocal about further investment in the cryptocurrency in the future. Due to the massive investment in Bitcoin, the business intelligent firm’s shares also become very volatile and often follow the price movement of Bitcoin.