Capital International purchased $600M in MicroStrategy stock

Jul 9, 2021 | CoinTelegraph News | 0 comments

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MicroStrategy’s stock price rose by more than 1.5% to reach $628.44 at the time of publication, making Capital International’s shares worth roughly $600 million.

Financial services company Capital International invested more than half a billion dollars into business intelligence firm MicroStrategy stock.

In MicroStrategy’s filings to the U.S. Securities and Exchange Commission, or SEC, for the second quarter of 2021, the firm disclosed Capital International Investors has purchased 953,242 shares of its stock. Following the release of the SEC filing, MicroStrategy’s stock price rose by more than 1.5% to reach $628.44 at the time of publication, making Capital International’s shares worth roughly $600 million.

Capital International’s Q1 2021 filing with the SEC reportedly showed the firm did not own any shares of MicroStrategy as of March 31.

Related: MicroStrategy expands company’s Bitcoin holdings with $489M purchase

MicroStrategy, the company which first announced last year it would be purchasing more than $250 million in Bitcoin (BTC), has gone on to acquire 105,085 BTC, more than $3.5 billion at the time of publication. Despite the news of a major investment into a company with massive crypto holdings, the price of BTC was seemingly unaffected. Bitcoin has risen 2% in the last 24 hours to reach $33,438.

Last month, the firm announced it intended to “raise $400 million aggregate principal amount of senior secured notes in private offering” to purchase more Bitcoin. Though MicroStrategy later increased the debt offering to $500 million and bought roughly $489 million in the crypto asset, its stock price briefly fell by more than 2%. 

News Source from CoinTelegraph.com

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