Capital International takes exposure to Bitcoin (BTC) by investing in MicroStrategy

Capital International Invests in MicroStrategy

Capital International, a subsidiary of Capital Group, has made a significant investment in MicroStrategy, acquiring nearly one million shares of stock, representing a 12.2% stake. This is worth $600 million.

Capital Group is a Los Angeles-based investment firm that is among the oldest and largest investment management organizations. As of December 2020, the group reported $2.2 trillion in assets under management.

As a reminder, MicroStrategy is an IT company, but it has become best known in recent months for its particularly “Bitcoin-friendly” strategy. A month ago, it had confirmed that it wanted to sell $1 billion of stock to buy Bitcoin, and the company now pays its board of directors in BTC.

MicroStrategy is thus considered the leading figure among companies that base their strategy on the largest cryptocurrency. Currently, it holds more than 100,000 bitcoins, or $3.3 billion at today’s price.

Read – MicroStrategy set to inject $500 million into Bitcoin (BTC)

Institutional investors still in the background

It should be noted that the only entity that owns more shares of MicroStrategy is BlackRock. The world’s largest sovereign wealth fund bought a 14.56% stake in the company. So this shows institutional interest in Bitcoin, even if they are getting indirect exposure to it.

A survey published earlier this month also showed that 83% of institutional investors already invested intend to increase their position by 2023. This is crucial: the arrival of the “zinzins” on the market had helped propel the price of Bitcoin to its last absolute record at more than 64,000 dollars last April. That’s why their interest could help trigger a new bull run for the largest cryptocurrency.

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On the same topic – Marshall Wace hedge fund wants to invest in cryptocurrencies, including stablecoins


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About the author: Marine Debelloir

Capital International takes exposure to Bitcoin (BTC) by investing in MicroStrategy twitter-soothsayerdatatwitter-soothsayerdata

Intrigued by Bitcoin for several years, I have become passionate about crypto-currencies and the innovative technologies behind them. I like to find the most interesting information to share with you and help democratize this exciting universe. But I don’t stop there! I also like to analyze projects related to cryptos and blockchains, which fascinate me just as much.
All articles by Marine Debelloir.