Capital International Investors (CII), a branch of Capital Group, a prominent US asset management business, has purchased 12.2 percent of MicroStrategy’s NASDAQ-listed common shares. 

Capital International Investors (CII), a part of Capital Group, a prominent US asset management business, has purchased 12.2 percent of MicroStrategy‘s NASDAQ-listed common stock, according to a filing with the Securities and Exchange Commission (NASDAQ: MSTR). MicroStrategy is a business intelligence company that was created in 1989. However, the company made headlines due to its significant Bitcoin investments and is considered a publicly-traded alternative to direct Bitcoin investments.

CII purchased MicroStrategy common stock in the amount of 953,242 shares. 

According to the SEC filing, CII has purchased 953,242 MicroStrategy common stocks out of a total of 7,782,568 outstanding shares, which was signed off by Capital Group Senior Vice President Walter Burkley on Monday. Last year, MicroStrategy set the industry standard by becoming the first publicly traded firm to buy $250 million worth of Bitcoin and put it on its balance sheet. But the corporation didn’t stop there, increasing its bitcoin investment, the most popular cryptocurrency. 

The company raised about $500 million in debt by just buying Bitcoins.

Business intelligence firms recently raised over $500 million in a debt issue primarily to purchase Bitcoins. The corporation now has more than 105,000 Bitcoins in its vault, worth roughly $3.5 billion. MicroStrategy‘s purchase of Bitcoin prompted other prominent public firms, such as Tesla and Square, to follow suit. Michael Saylor, the founder, and CEO of MicroStrategy is also optimistic about Bitcoin’s future and has supported more cryptocurrency investment. The business-savvy firm’s shares have become highly volatile as a result of the significant investment in Bitcoin, and they frequently follow the price movement of Bitcoin.

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