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A subsidiary of the “Capital Group” buys 12% of the shares of the “MicroStrategy” company that supports bitcoin

Source: https://bit.ly/3ejL78H

A division of the Capital Group has bought a stake in MicroStrategy, a cloud software company with huge holdings of bitcoin.

Capital International Investors, a division of Los Angeles-based Capital Group that manages more than $2.2 trillion in assets, bought a 12.2% stake in MicroStrategy last month, according to a filing with the SEC, details of which emerged today.

The value of the shares sold, estimated at 953,242 shares, is $561 million at today’s prices.

This means that Capital Group, one of the world’s largest investment firms, has indirect exposure to Bitcoin as MicroStrategy holds Bitcoin in most of its vault.

The company led by Michael Saylor has amassed 105,085 bitcoins worth $3.4 billion at today’s prices.

The Capital Group, which also oversees the mutual fund manager American Funds, declined to comment on the investment process.

One of the main reasons for the massive rise in cryptocurrencies, which began last year, is the bitcoin buying frenzy by MicroStrategy.

Virginia-based MicroStrategy began buying bitcoin last year and invested $250 million in August.

MicroStrategy has since bought larger amounts of bitcoin, and CEO Michael Saylor has been regularly preaching about the value of the coin and what it will become.

It seems that MicroStrategy has become so obsessed with Bitcoin that it is offering to take out debt to buy more Bitcoin.

Currently, MicroStrategy owns more bitcoin than any other publicly traded company.

It is worth noting that the “BlackRock” company, which is the largest sovereign wealth fund in the world, bought more shares in “MicroStrategy” company than “Capital”, where the share of “BlackRock” in “MicroStrategy” is estimated at 14.56%.

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