Morgan Stanley Holds 10% Stake In MicroStrategy: Report

Morgan Stanley holds 10% stake in the business intelligence company Microstrategy after the latter made a huge push in Bitcoin and it seems like it is paying off. In our latest cryptocurrency news today, we are reading more about this.

According to a filing with the Securities and Exchange Commission, the investment bank Morgan Stanley holds 10% stake in Microstrategy as it acquired 792,627 shares in the company. The investment represented a 10.
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9% stake in a company that made huge investments in BTC in the past few months. The purchase happened on December 31 with Microstrategy having a colossal month as it saw its shares move from $289 to $545. Back in August, MicroStrategy took bold steps into Crypto and made BTC its main reserve asset. CEO Michael Saylor at that time commented on the company’s choices:

 “This is not a speculation, nor a hedge. It is a deliberate corporate strategy to adopt the Bitcoin Standard.”

A few weeks ago, Microstrategy announced a $400 million securities offering with the purpose of raising funds to buy more into BTC. The company also said that it had stockpiled 70,470 BTC. With prices as of publication time, Microstrategy’s stockpile now weighs $2.8 billion. Institutional investors like Morgan Stanley warmed up to the crypto especially in 2020. Many attributed Bitcoin’s bull run to this institutional interest as compared to the retail FOMO which was crucial in the 2017’s highs for BTC that shortly fell apart.

Microstrategy could hold up to 0.4% of all BTC soon as per the new reports that we have in our latest Bitcoin news. The crypto space was shocked with the latest info that the company could be purchasing even more stash of BTC or about $650 million worth of the asset. If they purchase $650 million worth of BTC, Microstrategy could hold up to 0.4% of all BTC according to the analysis by Messari. The BTC space was rocked with the news last week that the company could be purchasing even more BTC. Microstrategy is an analytics company that is based in the US which has already purchased $450 million worth of BTC in the past few months as a hedge to its treasury and it even held a huge sum of cash that they decided to switch to crypto because of the unprecedented macro conditions.