With 105,084 BTC on its books, MicroStrategy is by far the largest business Bitcoin holder on the planet. More than 111,000 BTC are held by companies controlled by its CEO Michael Saylor.
Capital International Group acquires part of Microstrategy
According to SEC filings, Capital International Group, a $2.3 trillion asset management firm based in Los Angeles, has now filed for a 12.2 percent stake in bitcoin-focused MicroStrategy.
Capital Group now has a $560 million stake in MicroStrategy - making it the company's second-largest shareholder after BlackRock, which has a $700 million stake.
Capital International Group was named CII in the filing:
"CII is deemed to beneficially own 953,242 shares or 12.2% of the 7,782,568 shares believed to be outstanding."
Capital International Group provides services to a wide range of clients in the financial industry - including family offices, asset managers, pension trustees and others. Despite the fact that the wealth management firm has yet to officially comment on Bitcoin or cryptocurrencies, its investment in MicroStrategy suggests that it may be looking at digital assets on a larger scale.
MicroStrategy's Bitcoin purchases
MicroStrategy CEO Michael Saylor has become a well-known figure in Bitcoin circles thanks to his company's growing Bitcoin holdings, which now stand at over 105,000 tokens. According to previous reports, the company, which operates a data analytics platform, has invested a total of $2.7 billion in Bitcoin by borrowing money and issuing shares.
Bitcoin has been described as MicroStrategy's "primary" treasury reserve asset. This means the cryptocurrency is used for day-to-day cash management. The company's Bitcoin holdings are now held in a newly formed subsidiary called MacroStrategy LLC.
Despite the fact that MicroStrategy has a strong business model in enterprise data analytics, investors are increasingly looking at the company as a potential alternative to investing directly in Bitcoin. The strong uptake of the Canadian Purpose Bitcoin ETF and the continued success of Grayscale's GBTC fund show that institutional appetite is growing.
Funds such as VanEck's Digital Transformation ETF seek to replicate Bitcoin's performance by holding shares in companies such as Square, Coinbase and MicroStrategy.