Morgan Stanley bought out 10% of Bitcoin-whale MicroStrategy

Morgan Stanley bought out 10% of Bitcoin-whale MicroStrategy

  • MicroStrategy Shares Almost Doubles Since December 2020

  • Morgan Stanley acquired a new stake for $ 420 million

  • MicroStrategy remains one of the largest public bitcoin holders

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American financial conglomerate reported on the purchase of 10% of shares of one of the largest holders of bitcoin

The American bank holding Morgan Stanley has acquired more than 10% of shares in MicroStrategy. This is reported in the bank’s reporting to the US Securities and Exchange Commission (SEC).

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Update. The original version reported that Morgan Stanley previously owned 792,627 shares of MicroStrategy. In fact, before that, the bank held more than 140 thousand shares of the company. BeInCrypto editors apologize for the inaccuracy.

According to the declaration, the bank increased its stake in MicroStrategy to 10.9% of shares, increasing the total number to 792,627 shares. MicroStrategy Shares Up 25% Since Early 2021.

Bitcoin effect

MicroStrategy is one of the largest public bitcoin holders.

Morgan Stanley bought out 10% of Bitcoin-whale MicroStrategy

On moment of writing the company owns 70,470 BTC, which at the current BTC / USDT rate of $ 40,500 is ~ $ 2.8 billion. It is noteworthy that the average cost of buying a MicroStrategy bitcoin from the very first day of investment was $ 15,964 per BTC.

Last purchase nearly 30 thousand.

Morgan Stanley bought out 10% of Bitcoin-whale MicroStrategy

BTC (~ $ 1.3 billion) occurred at a rate of $ 21,925 per BTC. Bloomberg found that other large investors in MicroStrategy also include such companies as First Trust Advisors, BlackRock and Vanguard Group..

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MicroStrategy shares rally despite Citibank’s downgrade. Recall that in early December, Citibank analyst Tyler Radke downgraded the forecast for the company’s stock price to $ 250 due to large investments in cryptocurrency. A bank expert called MicroStrategy’s investment in bitcoin “excessive”, downgrading MSTR’s stock rating from “neutral” to “sell.” Then the shares of MicroStrategy fell from $ 336 to $ 279.

However, even despite the skepticism of Citibank, the company’s shares have almost doubled since December 2020.

Morgan Stanley has been one of the systemically important banks since 2011. The bank’s market capitalization is $ 136 billion.

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