Major Wall Street companies are accumulating MicroStrategy shares as a way to gain leveraged exposure to Bitcoin (BTC). At the time of writing, MicroStrategy holds 331,200 BTC worth $30.34 billion and devolves almost all the capital it can get to buy more. This also follows the firm recently acquiring an additional 51,780 BTC for about $4.6 billion at an average price of $88,627 per Bitcoin, the largest transaction by the company so far. MicroStrategy is a publicly-traded business intelligence company founded back in 1989 that pivoted to acquiring as much Bitcoin as possible in 2020.
Wall Street Is Stocking On Microstrategy As Leveraged Bitcoin Bet
Radek Zielinski, ReadWriteWeb
Tue, 11/19/2024 - 10:22am
Topics: the block benchmark mark palmer mstr s u.s etfs portfolioslab sept microstrategy shares metaplanet japan s microstrategy market institutional microstrategy vanguard group capital international morgan stanley blackrock finance november united states securities exchange commission sec fintel readwrite major wall street bitcoin btc microstrategy nov microstrategy s microstrategy investors wall street blackrock billion data million owned company worth increased holds exposure accumulating shows performance acquiring buy asset price holders interest
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