Morgan Stanley acquires 11% stake in MicroStrategy

The financial conglomerate Morgan Stanley has acquired 792,627 shares of MicroStrategy, a company that has aggressively invested in bitcoin. This is according to information on the SEC’s site.

Now the investment giant owns a 10.9% stake in the Nasdaq-listed provider of analytics software. The deal is likely to have influenced MSTR’s stock price, which has risen by more than 80% in the last 30 days—from $286 to the current $531.

Data: Nasdaq.

MicroStrategy — one of the institutions that pioneered the trend of investing in Bitcoin as a hedge against the dollar’s depreciation.

In August, the company acquired 21,454 BTC for more than $250 million. A month later, the firm invested additional $175 million, and in December another $650 million using debt financing. In total, MicroStrategy invested in Bitcoin $1.12 billion, becoming the owner of 70,470 BTC — valued at more than $2.8 billion at the time of writing. more than $2.8 billion.

Earlier, MicroStrategy CEO Michael Saylor expressed the belief that the influx of money from financial assets into Bitcoin is not a bubble.

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