The investment bank Morgan Stanley had acquired 792,627 shares in the business intelligence company MicroStrategy, according to a report published on January 8th with the Securities and Exchange Commission. The investment corresponds to a 10.9% stake in a company that has invested heavily in Bitcoin in recent months.
The purchase was apparently made on December 31st. MicroStrategy had a colossal month, with its stocks moving from $ 89 on December 8th to $ 545 on January 8th.
In August, MicroStrategy took bold moves towards crypto, making Bitcoin its primary reserve. At the time, CEO Michael Saylor said of the company’s choice:
“This is neither a speculation nor a hedge. It is a conscious corporate strategy to adopt the Bitcoin standard. “
A few weeks ago, MicroStrategy announced a $ 400 million security offering with the stated aim of raising funds to buy more Bitcoin. As of December 21, the company had 70,470 Bitcoin in storage.
At the time of publication, MicroStrategy’s BTC inventory was over $ 2.8 billion.
Institutional investors like Morgan Stanley have warmed significantly to crypto assets over the past year. Many have attributed Bitcoin’s recent bull market to this institutional boom, compared to the retail FOMO that was so critical to the 2017 BTC highs that later fell apart.