A few weeks after the initial filing with the US Securities and Exchange Commission, the division of the capital group into MicroStrategy became official. The financial giant, with more than $2 trillion in assets under management, has bought nearly 1,000,000 shares in the business intelligence firm, which has more than 100,000 bitcoins on its balance sheet.
- The Los Angeles, California-based financial services firm filed a filing with the SEC in late June, but Walter Berkeley, the company’s senior vice president, officially announced it on July 12.
- Therefore, through private equity firm Capital International Investors, Capital Group has acquired a 12.2% stake (953,242 shares) in MicroStrategy – a company founded and managed by one of the most famous Bitcoin bulls – Michael Sailor.
- In this way, the financial services giant will gain indirect exposure to BTC by investing significant amounts in MicroStrategy.
- The NASDAQ-listed business intelligence firm began collecting bitcoins in August 2020 with a $240 million purchase.
- Since then, he has only stepped up his buying efforts. The company even raised funds by selling billions of dollars in Class A common stock for distribution in major cryptocurrencies.
- Less than a year after the initial purchase, MicroStrategy owns 105,085 bitcoins worth more than $3.4 billion at current prices. From another point of view, Michael Sailor’s company holds 0.56 of all currently circulating symbols.
- Additionally, the company started paying its non-executive board members in Bitcoin shortly after becoming a node on the network and turning BTC into its financial reserve.
- Additionally, MicroStrategy and its CEO are hosting a Bitcoin conference to educate companies about the benefits of Bitcoin and why it should be included in the balance sheet.