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Morgan Stanley now holds 10% stake in Michael Saylor’s MicroStrategy

01/08/2021

MicroStrategy’s huge push into Bitcoin is paying off, with shares skyrocketing and big new funding from Morgan Stanley.

Per a submitting with the Securities and Change Fee launched on Jan. 8, funding financial institution Morgan Stanley had acquired 792,627 shares in enterprise intelligence agency MicroStrategy. The funding represents a ten.9% stake in a agency that has made huge investments in Bitcoin over the previous a number of months. 

The acquisition apparently occurred on Dec. 31. MicroStrategy has had a colossal month, seeing its shares transfer from $289 on Dec. 8 to $545 as of Jan. 8. 

Supply: NASDAQ

In August, MicroStrategy took daring steps into crypto, making Bitcoin its major reserve asset. On the time, CEO Michael Saylor stated of the agency’s alternative:

“This isn’t a hypothesis, nor a hedge. It’s a deliberate company technique to undertake the Bitcoin Commonplace.”

Simply weeks in the past, MicroStrategy introduced a $400 million securities providing with the said goal of elevating funds to purchase extra Bitcoin. As of Dec. 21, the agency had stockpiled 70,470 Bitcoin. 

At costs as of publication time, MicroStrategy’s BTC stockpile was value over $2.8 billion. 

Institutional traders like Morgan Stanley have warmed as much as crypto property significantly over the previous yr. Many have attributed Bitcoin’s latest bull market to this institutional uptick, as in comparison with the retail FOMO that was so vital to BTC’s 2017 highs, which subsequently fell aside.