US Giant Capital Group Buys 12.2% MicroStrategy Shares

Capital International Investors (CII), a division of major US asset management firm Capital Group, has purchased 12.2 percent common stocks of NASDAQ-listed MicroStrategy (NASDAQ: MSTR), according to a filing with the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (SEC).

MicroStrategy is a business intelligence company and was founded in 1989. But, the company grabbed headlines because of its massive investments in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and is seen as a publicly-traded alternative to direct investments in Bitcoin.

The regulatory filing, which is dated June 30 but was signed 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.

The Bitcoin Proxy

MicroStrategy became the first publicly listed company to add $250 million worth of Bitcoin to its balance sheet last year, setting a trend in the industry. But, the company did not stop there and continued to pour more money to make Bitcoin purchases.

Most recently, the business intelligence firms raised close to $500 million in debt offering solely for the purpose of purchasing Bitcoins. The company now holds more than 105,000 Bitcoins in its reserves, which is valued at around $3.5 billion.

Moreover, its investment in Bitcoin pushed other major public companies like Tesla and Square to purchase Bitcoins. MicroStrategy’s Founder and CEO, Michael Saylor is very bullish on Bitcoin and is vocal about further investment in the digital currency in the future.

Due to the massive investment in Bitcoin, MicroStrategy shares have become very volatile and often follow the price movement of Bitcoin. The share price has drastically fallen from the peak it achieved in February and is now trading at $588 apiece, 6.36 percent down from the previous trading session closure.