MicroStrategy Inc
NASDAQ: MSTR
282.88 USD −0.94 (0.33%)today
Last week, the U.S. Security and Exchange Commission (SEC) filed lawsuits against Binance and Coinbase.
www.coindesk.com
These banks buying BTC in Q1 2023 include:
BLACKROCK
Bank Of America
Fidelity
What do they know?
Thread
1/
Looking at the largest holders of MicroStrategy(MSTR) stock, we can see some big banks have been buying HUGE amounts of MSTR in Q1 2023!
Yes, that's the same MSTR that is the largest institutional holder of Bitcoin, owning 140K BTC, worth over $3B!
This makes us wonder...
2/
With the recent SEC lawsuits & operation chokepoint 2.0, why are these banks buying stocks correlated to the BTC price?
Considering there's no ETF in the US, buying MSTR is the easiest way for some US investors to get exposure to the price of BTC.
Let's dive deeper...
3/
BOA have curiously increased their exposure to (MSTR) by 47,800% in Q1 2023!
BOA, is the 2nd largest US bank, with a MC of $233B, and over $3 TRILLION of AUM!
Now let's look at what the world's largest asset manager, with over $10 TRILLION AUM is quietly doing...
4/
BOA might have a 2.37% stake in MSTR, but BLACKROCK has a stake in MSTR 3 times larger!
BlackRock interestingly holds a 6% stake in MSTR, worth over $156 MILLION...
You might be thinking:
5/
''Doesn't Blackrock only invest in ESG-friendly companies?''
''Why are they buying
#Bitcoin related companies?''
I know, I know, shocking!
We'll dive deeper down the Blackrock rabbit hole shortly, however, they're not the only billion $ bank quietly accumulating MSTR...
6/
Another GIANT firm with over $4.5 TRILLION in AUM, has also increased its exposure to MicroStrategy by 28,000%!
Fidelity has a 1% stake in MSTR!
Interestingly, it's not only billion-dollar banks in the US buying MSTR, there is a GLOBAL appetite for Bitcoin exposure in 2023!
7/
We can also see that the sixth largest bank in Canada has purchased over half a million dollars worth of MicroStrategy stock in 2023!
The important question we should be exploring is:
''Why are all these banks doing this in early 2023?''
The
#Bitcoin price is down 60%...
8/
Are they following the lead of the $700B bank that recently predicted BTC to hit $100K in 2024?