Morgan Stanley Boosts Stake in Bitcoin-Laden MicroStrategy to 10.9%

MicroStrategy CEO Michael Saylor (Charles Norfleet/Getty Images)

Morgan Stanley now owns 792,627 shares of MicroStrategy, bringing its total ownership in the company best known for holding over $2 billion in bitcoin to 10.9%, according to a filing made with the U.S. Securities and Exchange Commission.

  • The financial giant boosted its stake by almost 650,000 shares since the end of Q3.
  • The shares of MicroStrategy, a relatively little known business intelligence firm prior to its massive investment in the leading cryptocurrency, have soared 330% since the company bought its first bitcoin on Aug. 11, 2020, rising from $123.80 to $539.57.
  • As illustrated in the chart below, before buying its first bitcoin, MicroStrategy’s share performance left something to be desired, having fallen 13% from Jan. 2, 2020, through Aug. 10, 2020.
  • Given MicroStrategy’s shares are largely tracking the price of bitcoin, which is up more than 40% this year following a 300% gain in 2020, it’s likely Morgan Stanley views its investment as a way to benefit from bitcoin’s historic run without actually being a HODLer.
Read more: Saylor Hits Back at Claims MicroStrategy’s Bitcoin Trove Makes It an ETF

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