What’s happening:
Central banks & funds have revealed significant holdings in MicroStrategy:
🎰 Norges Bank: 1.123M shares = 0.45% = $154M
🎰 Swiss National Bank increasing its stake by 60% to 466,000 shares = 0.24% = $63M
🎰 Norway’s sovereign wealth fund: $217M, 3x its stake over the past year, with a 0.89% ownership ($304M).
Why Microstrategy? That’s not Bitcoin, right?
Wait: ☝️Microstrategy is the company of Michael Saylor … a US business man a prominent Bitcoin evangelist.
In Aug 2020, he started a risky strategy: Buy Bitcoin with Microstrategy’s treasury reserves.
You bet: By now, Microstrategy holds 226,500 BTC valued at $13.8B, That’s HALF of its $26.3B market cap.
🤯Here’s where it gets interesting:
As the company is publicly traded, it essentially turned into a “Bitcoin index”.
Investing in MicroStrategy offers these central banks indirect exposure to Bitcoin without directly holding the cryptocurrency.
And it continues to attract investment from global financial institutions: 🎰 South Korea’s National Pension Service invested $32.5M in MicroStrategy.
Devil’s advocate: “This is simply part of a physical index replication strategy which basically all very large institutional investors have and do.“– Patrick Saner, CFA Head of Macro Strategy at Swiss Re
Really?or is Bitcoin the new gold? Comment 👇
submitted by /u/levijohnson1
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