Capital Group Buys 12% Stake in BTC-Exposed MicroStrategy

by in Cryptocurrency News

Capital Group MicroStrategy shares

California-based major financial services company Capital Group has acquired a 12.2% stake of enterprise-intelligence software firm MicroStrategy’s (MSTR) common stock.

Particularly, the company's division Capital International Investors (CII) purchased 953,242 shares of 7,782,568 outstanding, the filing with the US SEC shows. At current prices, the acquired shares are estimated $561 million.

CII filed the document on June 10. However, Senior Vice President Walter Burkley signed the paper on July 12. By the purchase, CII gets indirect exposure to Microstrategy’s over 105.000 BTC reserves.

MicroStrategy is a big Bitcoin investor. The most recent purchase by the firm was on June 22. Then MicroStrategy bought 13,005 Bitcoins for $489 M.

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The company made its first Bitcoin purchase on August 11, 2020 Now, its BTC capital is the largest ever held by any publicly traded company.