Morgan Stanley, the world’s banking giant, bought a 10 percent stake in MicroStrategy after the bitcoin boom surged.
To Report In a letter to the US Securities and Exchange Commission, Coin Telegraph and Morgan Stanley announced yesterday that it had bought 792,627 shares in the microstrategy intelligence company. This is equivalent to 10% of the microstrate stock. In recent months, Micro-Strategy has made huge investments in Bitcoin.
Morgan Stanley reportedly bought the company’s stock on the final day of 2020. The price of each micro-strategy share has increased from $ 289 to $ 545 from December 8, 2020 to December 8, 2021.
In August, it chose the Bitcoin micro-strategy as its reserve asset. Michael Saylor, the company’s CEO, said after the big move:
This speculation and investment is not in the hope of making a profit or to cover a risk. It’s a well-planned trading strategy to adopt the bitcoin standard.
A few weeks ago, Microstrategy announced that it would offer $ 400 million in premium debt to buy Bitcoin. Until last month, the company owned about 70,470 bitcoins. Given the price of bitcoin, they are currently worth more than $ 2.8 billion.
Since 2020, Morgan Stanley has strengthened its relationship with the digital currency market. However, according to many market investors and traders, the influx of a huge influx of institutional investors into the market has led to its extraordinary growth. According to them, after the arrival of these investors, small investors were also afraid of falling behind, and this issue introduced a new wave of capital in this field.