Capital Worldwide Group, a $2.three trillion asset supervisor headquartered in Los Angeles, has acquired a 12.2% stake in MicroStrategy — making it one of many largest oblique buyers in Bitcoin (BTC) on the planet.
In accordance with a disclosure with america Securities and Change Fee, or SEC, Capital Worldwide Group now holds roughly $560 million price of MSTR inventory. Solely BlackRock has greater publicity to the enterprise intelligence agency.
MicroStrategy has been loading its strategic reserves with Bitcoin for nearly one yr after CEO Michael Saylor turned satisfied that the digital asset represented a brand new financial commonplace. As Cointelegraph reported, the corporate’s current Bitcoin gambit was worth $489 million. Earlier in June, MicroStrategy successfully raised $400 million in debt to buy extra BTC.
MicroStrategy has change into a type of Bitcoin proxy stock because of its outsized publicity to the digital asset. The corporate’s Bitcoin holdings are actually held in a newly fashioned subsidiary referred to as MacroStrategy LLC.
This story remains to be in improvement.