US Financial Giant Capital Group Buys 12% Stake in Bitcoin-Exposed MicroStrategy

US Financial Giant Capital Group Buys 12% Stake in Bitcoin-Exposed MicroStrategy

A division of major U.S. asset management firm Capital Group has conducted a 12.2% purchase of business-intelligence software company MicroStrategy’s (MSTR) common stock.

  • According to a filing to the Securities and Exchange Commission on June 30, Capital International Investors (CII) bought 953,242 shares of 7,782,568 outstanding.
  • While the filing was made two weeks ago, Senior Vice President Walter Burkley only signed off on Monday, according to the document.
  • CII is a private equity firm and forms part of Capital Group, an asset manager with $7.6 billion in annual revenue and $2.3 trillion in assets under its management.
  • The purchase by CII provides the firm with indirect exposure to Microstrategy's more than 105,000 bitcoin reserves.
  • According to data from the Nasdaq exchange, MSTR's share price is down 6.3% over a 24-hour period on a closing price of $588 and down roughly 55% from its peak of $1,315, witnessed Feb. 9.
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