US Financial Giant Capital Group Buys 12% Stake in Bitcoin-Exposed MicroStrategy
The purchase provides the firm with indirect exposure to MicroStrategy's more than 105,000 bitcoin reserves.
Jul 13, 2021 at 2:00 a.m. UTCUpdated Sep 14, 2021 at 1:24 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/MHL4KHVKXJFGJCNYSNQUDO3DP4.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Capital International Investors, a unit of Los Angeles-based investment firm Capital Group, has purchased a 12.2% stake in MicroStrategy (MSTR), a business-intelligence company that has invested heavily in bitcoin.
- According to a filing with the U.S. Securities and Exchange Commission on June 30, Capital International bought 953,242 shares.
- While the filing was made two weeks ago, Walter Burkley, a senior vice president and senior counsel at Capital Group, only signed off on Monday, according to the document.
- CII is a private equity firm that is part of Capital Group, an asset manager with $7.6 billion in annual revenue and $2.3 trillion in assets under its management.
- The purchase by CII provides the firm with indirect exposure to MicroStrategy's more than 105,000 bitcoin reserves.
- According to data from the Nasdaq exchange, MicroStrategy's share price is down 6.3% over a 24-hour period at a closing price of $588 and is down roughly 55% from its peak of $1,315 on Feb. 9.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)