Morgan Stanley Increases its Stake In BTC HOLDer MicroStrategy to 10.9%


Banking giant Morgan Stanley has jumped on the Bitcoin bandwagon via MicroStrategy Inc. by increasing its stake in the company to more than 10% late last year.

According to a filing with the US Securities and Exchange Commission (SEC) on Friday, the investment management arm of the bank held 792,627 shares of MicroStrategy by the end of December.

Back in Q3 2020, the company owned 142,908 shares, representing a 360% increase in position.

Morgan Stanley’s 10.9% stake had a value of about $420 million based on the day’s closing price of $531.64. MicroStrategy (MSTR) shares have surged 330% in value in the past five months, to a level last seen in April 2000.

This wild rally in MSTR share prices has been driven by the company’s chief executive officer Michael Saylor’s big bet on Bitcoin. As of Dec. 21, 2020, the company holds an aggregate of 70,470 bitcoins, worth $2.85 billion at a current BTC price of over $41,200.

Other top holders of MicroStrategy include First Trust Advisors, BlackRock Inc., and Vanguard Group.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide