Morgan Stanley owns a 10.9% stake in MicroStrategy

  • United States-based investment banking giant Morgan Stanley now owns a 10.9% stake in MicroStrategy, a business intelligence firm that made headlines last year for purchasing massive amounts of Bitcoin
  • Morgan Stanley is likely using MicroStrategy shares as a way to get exposure to Bitcoin. MicroStrategy holds over $1 billion worth of Bitcoin, and its shares have been following the performance of Bitcoin to a significant extent.
  • Analyst Kevin Rooke explained that Morgan Stanley increased its position in MicroStrategy by 455% compared to Q3 2020.  
  • The Nasdaq-listed MicroStrategy’s pivot to Bitcoin has been hugely beneficial for the company, as its shares are now trading at around $512. When MicroStrategy announced its first Bitcoin investment in August last year, its shares were trading at around $123.
  • In December 2020, MicroStrategy raised capital through convertible senior notes to increase its Bitcoin position further. After its latest purchase, the company owns around 70,470 BTC, which translates to $2.45 billion giventhe current Bitcoin price. In total, MicroStrategy spent just under $16,000 per BTC when building out its position – the company’s unrealized profits from its Bitcoin investment are currently over 100%.
  • MicroStrategy’s Bitcoin purchase has been described as a catalyst for further institutional adoption of cryptocurrencies. Following MicroStrategy’s BTC investment, we saw Square buy $50 million and MassMutual buy $100 million worth of Bitcoin.
  • Per a Bloomberg report, FirstTrust advisors, BlackRock and Vanguard have also held MicroStrategy stock, according to periodic filings.
  • Bitcoin hit a record high at just under $42,000 on January 8, but quickly retraced to almost $30,000. After a bounce, BTC is now changing hands at around $34,700.



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