Morgan Stanley Focuses on Bitcoin with Boosted Stake in MicroStrategy
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Global investment bank Morgan Stanley is boosting its stake in MicroStrategy with acquisition of 650,000 shares since Q3 2020.

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According to a filing with the US Securities and Exchange Commission (SEC), Morgan Stanley now owns 10.9% of MicroStrategy's stocks (792,627). Cryptocurrency analyst Kevin Rooke says the last investment is a 455% increase up from 142,908 shares in Q3, 2020. MicroStrategy's stocks have been rising rapidly since the beginning of the year. As of press time, MSTR is trading at $531.64 (up from $425.22) despite Citibank's recent downgrade of the company's stocks from Neutral to Sell.

Morgan Stanley: Bitcoin is a New Institutional Investment Class

In December 2020, MicroStrategy purchased almost 30,000 BTCs (EXANTE: Bitcoin) for $650 million in cash. The company bought the cryptocurrency at an average price of ~$21,925 per BTC. Up to date, the largest business data analytics provider has 70,470 BTCs ($2,8 billion), purchased at an average purchase price of $15,964 per BTC.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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