Morgan Stanley now holds 10% stake in Michael Saylor's MicroStrategy
Per a filing with the Securities and Exchange Commission released on Jan. 8, investment bank Morgan Stanley had acquired 792,627 shares in business intelligence firm MicroStrategy. The investment represents a 10.9% stake in a firm that has made massive investments in Bitcoin over the past several months.
The purchase apparently happened on Dec. 31. MicroStrategy has had a colossal month, seeing its shares move from $289 on Dec. 8 to $545 as of Jan. 8.
In August, MicroStrategy took bold steps into crypto, making Bitcoin its primary reserve asset. At the time, CEO Michael Saylor said of the firm's choice:
“This is not a speculation, nor a hedge. It is a deliberate corporate strategy to adopt the Bitcoin Standard.”
Just weeks ago, MicroStrategy announced a $400 million securities offering with the stated purpose of raising funds to buy more Bitcoin. As of Dec. 21, the firm had stockpiled 70,470 Bitcoin.
At prices as of publication time, MicroStrategy's BTC stockpile was worth over $2.8 billion.
Institutional investors like Morgan Stanley have warmed up to crypto assets considerably over the past year. Many have attributed Bitcoin's recent bull market to this institutional uptick, as compared to the retail FOMO that was so critical to BTC's 2017 highs, which subsequently fell apart.
Bitcoin Bull Mike Novogratz Warns of 'Existential Crisis' if the US Fails to Create Digital Dollar
Mike Novogratz, the CEO of Galaxy Digital and bitcoin bull has warned that the United States’ failure to have its own digital currency could be an “existential crisis.” However, the CEO says the country’s fate is still in its hands. Novogratz made these comments a few days after former U.S. Secretary of State, Mike Pompeo suggested that the United States is not going to have a digital dollar anytime soon.
How to Use AI to Generate Free Bitcoins
When you get on the Bitcoin train you know you are in for a wild ride, with the price dipping and soaring so fast it’s hard to keep up. One thing is certain however, the overall value of Bitcoin is rising year-on-year at an incredible rate. Since the start of the pandemic the price has skyrocketed from just 7,200 USD in January last year, to its current price of near to 60,000 USD, although with some heart-stopping drops and recoveries in price along the way. BTC is clearly a great investment, but there is undoubtedly a high level of risk and uncertainty, so it is critical to mitigate your exposure and the best way to do this is with an automated platform.
All that mined is not green: Bitcoin’s carbon footprint hard to estimate
The impact of BTC mining on the environment has turned into a debate — here’s what academics think and if “green Bitcoin” is possible.
With Banks Turning to Bitcoin, Is It Finally Time to Long the Bankers?
In the past, much of the Bitcoin community was taken to declaring, “Long bitcoin, short the bankers.” But now that the likes of Goldman Sachs, Morgan Stanley, BNY Mellon, State Street, Deutsche Bank and others are entering the crypto space, is it now to long banks as well as BTC？
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