U.S. Markets open in 4 hrs 13 mins

US Financial Giant Capital Group Buys 12% Stake in Bitcoin-Exposed MicroStrategy

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

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.

Related Stories