US Financial Giant Capital Group Buys 12% Stake in Bitcoin-Exposed MicroStrategy

Capital International Investors, a unit of Los Angeles-based investment firm Capital Group, has purchased a 12.2% stake in MicroStrategy (MSTR), a business-intelligence company that has invested heavily in bitcoin.

According to a filing with the U.S. Securities and Exchange Commission on June 30, Capital International bought 953,242 shares.
While the filing was made two weeks ago, Walter Burkley, a senior vice president and senior counsel at Capital Group, only signed off on Monday, according to the document.
CII is a private equity firm that is part of Capital Group, an asset manager with $7.6 billion in annual revenue and $2.3 trillion in assets under its management.
The purchase by CII provides the firm with indirect exposure to MicroStrategy's more than 105,000 bitcoin reserves.
According to data from the Nasdaq exchange, MicroStrategy's share price is down 6.3% over a 24-hour period at a closing price of $588 and is down roughly 55% from its peak of $1,315 on Feb. 9.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Sebastian Sinclair

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.