MicroStrategy, a cloud software company with significant Bitcoin holdings, has been acquired by a $2.2 trillion asset manager.
According to an SEC filing today, Capital International Investors, a part of Los Angeles-based Capital Group, purchased a 12.2 percent investment in MicroStrategy last month. At today’s pricing, the 953,242 shares are worth $561 million.
Because MicroStrategy stores a large portion of its treasury in Bitcoin, Capital Group, one of the world’s largest investment firms, has an indirect exposure to Bitcoin. The Michael Saylor-led company has amassed 105,085 bitcoins, which are worth $3.4 billion at today’s pricing.
One of the main causes for the cryptocurrency’s remarkable bull run, which began last year, is MicroStrategy’s Bitcoin buying frenzy. Last year, the Virginia-based firm began purchasing the asset, investing $250 million in August.
Since then, the company has purchased a large amount of BTC, and CEO Michael Saylor preaches the currency’s value almost everywhere, including on Twitter. MicroStrategy has even sold the debt to fund the purchase of additional Bitcoin. It owns more cryptocurrency than any other publicly traded corporation at the moment.
However, it is owned by someone. With a 14.56 percent interest in MicroStrategy, only BlackRock, the world’s largest sovereign wealth fund, has more than Capital.