Global investment bank Morgan Stanley is boosting its stake in MicroStrategy with acquisition of 650,000 shares since Q3 2020.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to a filing with the US Securities and Exchange Commission (SEC), Morgan Stanley now own 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.
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.