It seems that MicroStrategy’s decision to invest in Bitcoin is paying off. Now we learn that Morgan Stanley has as much as 10 percent. shares in MicroStrategy.
Morgan Stanley invests in MicroStrategy
According to a notice filed at the headquarters of the US Securities and Exchange Commission (SEC) on January 8, investment bank Morgan Stanley acquired 792,627 shares of Business Intelligence MicroStrategy. This investment is 10.9 percent. shares of a company that has made huge investments in the Bitcoin market in the last few months.
The purchase apparently took place on December 31st. MicroStrategy also had a great month when its stock rose from $ 289 on December 8 to $ 545 on January 8.
We buy BTC!
In August, MicroStrategy took bold steps towards entering the cryptocurrency market, making Bitcoin its main reserve asset. At that time, CEO Michael Saylor said of the company’s decision:
“This is not speculation or hedging. This is a deliberate corporate strategy to adopt the Bitcoin standard. “
Just a few weeks ago, MicroStrategy also announced that it was organizing a $ 400 million securities offer to raise funds to buy even more Bitcoins. As of December 21, the company has amassed 70,470 Bitcoins. Today, MicroStrategy’s cryptocurrency assets are worth approximately $ 2.8 billion.
Institutional investors such as the Morgan Stanley bank are increasingly choosing to purchase cryptocurrency assets. The turning point was, as it seems to us today, the last year. Many attribute the recent Bitcoin boom to this increase in the number of institutions that buy BTC. This distinguishes the current boom from the one in 2017, when the market was definitely dominated by retail investors (the so-called street), which of course does not exclude that this group of BTC buyers will eventually enter the cryptocurrency markets.
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