$2.2 Trillion Asset Manager Buys Stake In MicroStrategy, Gains Indirect Exposure To Bitcoin

$2.2 Trillion Asset Manager Buys Stake In MicroStrategy, Gains Indirect Exposure To Bitcoin
фото показано с : zycrypto.com

2021-7-15 19:26

American financial services company Capital Group has bought a 12% stake in business intelligence software and related services provider MicroStrategy, according to a US SEC filing. The filing shows that Capital Group has purchased 953,242 shares worth approximately $561 million at the current price of $588.6 per share.

The purchase makes Capital Group ($2.23 trillion assets under management) the second-biggest investor in MicroStrategy, after American multinational corporation BlackRock, which holds a 15.24% stake according to data by CNN Business. Both companies have gained indirect exposure to Bitcoin through Microstrategy, which holds over $3 billion worth of Bitcoin in less than one year.

MicroStrategy now owns 105,085 BTC worth around $3.4 billion since the company started to make strategic purchases in the second half of 2020. In addition to investing heavily in BTC, Microstrategy’s CEO Michael Saylor openly advocates for Bitcoin as a sound store of value, pointing out that his company plans to have bitcoin in its balance sheet for a long time.

More Institutions are Gaining Direct/Indirect Exposure to Cryptocurrencies

Both MicroStrategy and Tesla’s BTC purchases have played a significant role in boosting bitcoin’s bull run in 2020 and early 2021. Microstrategy’s initial purchase of $250 million via Grayscale digital assets management fund occurred in August 2020.

The news opened the doors wide open for other institutional investments in the crypto market, leading other companies to consider and publicly declare their direct or indirect exposure to Bitcoin.

Microstrategy has since become a key institutional player in the crypto market and has often been used as an example for other institutions who are worried about their future due to the inevitability of fiat inflation.  

Earlier last month, the company announced that it is borrowing $500 million to increase its exposure in crypto by buying more bitcoin. The news marked the first time a company conducts a junk bond sale to finance a bitcoin purchase.  

The move was met with criticism from several traditional market finance analysts such as the chief income strategist at the Oxford Club, Marc Lichtenfeld, who pointed out the Microstrategy is risking millions of dollars to speculate on a highly volatile asset. 

“Does MicroStrategy even have a business anymore or is it a proxy for Bitcoin-with borrowed money?”

Grayscale, another aggressive BTC buyer, and which now owns 3% of all the BTC in circulation recently pulled a similar move by rebalancing its crypto portfolio to purchase Cardano’s ADA.

Despite assumed resistance from some institutional investors, a recent survey by Nickel Digital Assets management indicated that 82% plan to increase their crypto exposure by 2023.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Breakout Stake (BRX) на Currencies.ru

$ 0.0275942 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -25.27 %
Cегодня L: $0.0275942 - H: $0.0275942
Капитализация $172.963k Rank 99999
Доступно / Всего 6.268m BRX

capital services microstrategy group filing stake 242

Источник: zycrypto.com

capital services → Результатов: 126


Goldman Sachs Believes Ethereum Beats Bitcoin, New Leaked Report Reveals

Goldman Sachs Group Inc, an American multinational financial services company, has weighed in on the controversy between Bitcoin and Ethereum, emphasizing its support for the latter. Excerpts from the bank’s leaked Global Macro Research paper, posted on Twitter by Santiago Santos, General Partner at ParaFi Capital, showed the bank tackling and analyzing the key arguments […]

2021-5-25 20:07


The Money Roundup: Making Cents of Blockchain Fundraising News

From crypto trading to defi, the most exciting areas in blockchain fintech development and innovation are attracting serious investments from all industry corners. To introduce more tools and complementary services to the ecosystem, the recipients of these capital allocations are endeavoring to promote greater adoption by removing many existing participation obstacles and taking a more […]

2021-4-14 09:15


Фото:

RBC analysts claim crypto adoption can help Apple shares surge 25%

Analysts at RBC Capital Markets, a global investment bank that offers banking, finance, and capital markets services, believe crypto adoption can help Apple shares soar. A report unveiled this news on February 8, quoting one analyst named Mitch Steves, who predicts that Apple shares can gain up to 25% if the company integrates crypto functionality […] The post RBC analysts claim crypto adoption can help Apple shares surge 25% appeared first on Invezz.

2021-2-10 21:53


Фото:

Кредитная платформа Vauld привлекла $2 млн от Coinbase и Pantera Capital

Базирующийся в Индии криптовалютный стартап Vauld привлек $2 млн на расширение функциональности платформы и экспансию на рынки Европы и США. Excited to support @Vauld_ and @darshanbathija @sanjukurian13 in delivering crypto financial services to India and beyond! https://t.

2020-12-29 11:21


Фото:

PayPal purchased 70% of all newly-mined BTC over the past month

Payments giant PayPal bought up to 70% of all newly-mined BTC over the past month since it started offering crypto services on October 21 this year. Pantera Capital, a hedge fund manager, unveiled this news in its most-recent monthly blockchain letter, adding that combined with Square’s Cash App, the two firms are purchasing more than 100% of all newly-issued BTC.

2020-11-24 14:55


Фото:

Thailand’s New Rules Help Securities Companies Launch Crypto Exchanges

Thailand has reportedly revised its net capital rules which help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers. New Thai Rules and Crypto Exchanges The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported […] The post Thailand’s New Rules Help Securities Companies Launch Crypto Exchanges appeared first on Bitcoin News.

2020-11-20 04:15


Chorus One releases report on capital efficiency in the crypto staking industry

Interchain Foundation and Chorus One, a company providing staking services, have released an extensive research report on designs and implications of protocols that tokenize stake. The research conducted as part of the Liquid Staking Working Group, a collective of organizations within the staking industry with an interest in tokenized staking protocols, was commissioned and supported […] CryptoNinjas: Chorus One releases report on capital efficiency in the crypto staking industry

2020-6-17 16:53


Фото:

Tech Consortium Behind Zilliqa Partners German Bank’s Fintech Arm to Explore Blockchain Solutions

According to a press release issued on May 15, 2020, Singapore-based group of technology companies Anquan Capital Pvt. Ltd. – responsible for the launch of the high-throughput network Zilliqa (ZIL) – has joined forces with the fintech arm of German bank WEG Bank AG to explore blockchain applications for banking and financial services.

2020-5-19 14:00


FalconX Exchange Raises $17M to Enhance Crypto Trading Services For Its Growing Demand

FalconX, the US-based virtual assets trading startup that offers its customers best execution via data science, has announced that it has raised $17 million from different investors. The firm stated that the funding round comprised Coinbase Ventures, Accel, Fenbushi Capital, Accomplice VC, Lightspeed Venture Partners, Flybridge Capital Partners as well as Avon Ventures. According to […]

2020-5-14 23:36


Bitcoin Suisse announces Series A capital raise

Bitcoin Suisse, a Swiss-based crypto financial services and technology provider, today announced its Series A and first-ever capital raise. A total of 20% of shares in BTCS Holding AG, the holding company owning and controlling all Bitcoin Suisse subsidiaries, with full voting and dividend rights, are offered for sale at a CHF 275m pre-money valuation, […] CryptoNinjas: Bitcoin Suisse announces Series A capital raise

2020-5-8 12:38


Fundraising platform Republic looks to Algorand’s blockchain to build new security token

Republic, an inclusive investing platform and technology services provider, today announced its proposed initiative to build a tokenized security on the Algorand blockchain. With nearly 500,000 users, the crowdfunding and private syndication arms of Republic have raised capital for over 170 startups in the past three years; facilitating $67.

2020-3-17 16:49


Zabo raises $2.5M to connect crypto wallet accounts to financial service apps

Zabo, which enables any financial services company to connect to users’ cryptocurrency wallets in a few lines of code, today announced it has raised $2. 5 million in new funding. The round was led by Moonshots Capital with participation from Blockchange Ventures, Castle Island Ventures, Digital Currency Group, CoinShares, Tezos Foundation, Capital Factory, and others.

2020-3-7 18:11


Фото:

Digital Remittances Reach Record of $96 Billion YoY, High Fees Open Door for Cryptocurrencies

In a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for alternative digital platforms and decentralized cryptocurrencies.

2020-2-14 04:45


Icelandic Bitcoin Mining Giant Takes on UK Company in

A new lawsuit filed by London-based Digital Capital Ltd. accuses Icelandic Bitcoin mining firm, Genesis Mining Iceland EHF, of failing to pay for the development and maintenance of its software. UK firm accuses the mining giant of failure to pay for services Recent reports indicate that the Iceland-based bitcoin mining firm, Genesis Mining Iceland EHF, did not pay Digital Capital Ltd.

2020-1-28 16:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.