Morgan Stanley operates as an arm of JPMorgan, the second-largest US bank. Company now owns 10.9% of Microstrategy shares, according to the announcement. Can Morgan Stanley’s support for MicroStrategy be considered indirect support for Bitcoin?
Investment bank Morgan Stanley has filed an SEC form showing it owns 10.9% of MicroStrategy shares on January 8, 2021. Morgan Stanley had 792,627 MicroStrategy shares at the end of December 2020, according to the SEC. Value of the 10.9% stake held by bank was about $ 420 million. According to Friday’s closing value report shared in Bloomberg.
SEC report also cited other companies that own MicroStrategy shares. These companies include First Trust Advisors, BlackRock Inc. and Vanguard Group.
MicroStrategy has about $ 2.8 billion in BTC
MicroStrategy has 70,470 Bitcoins, and the current value of these BTCS is about $ 2.8 billion. MicroStrategy’s shares, which use Bitcoin as a company reserve asset, have performed well in 2020 and increased in value by 3 times in 2020. Shares in the company, which is listed on Nasdaq with the code MSTR, are up from $ 140 to $ 389 in 2020. Looking at the current share price, Mstr was at $ 535 at the last close.
Microstrategy CEO Michael Saylor has made a major contribution to the company’s adoption of Bitcoin in the last two quarters of 2020.
Related Post : Microstrategy CEO Announces Bitcoin’s Peak Price
Banks also want Bitcoin
Kevin Rooke, who is an investor and also shares data on the amount of Bitcoin owned by corporate companies. He commented on Twitter on the Morgan Stanley news. Rooke announced that Morgan Stanley owns 10.9% of Microstrategy shares, and said those shares have seen a 455% increase since the third quarter of 2020. “Even banks now want Bitcoin, ” Rooke said.”