As a seasoned crypto investor with over a decade of experience under my belt, I’ve seen numerous institutional players dipping their toes into the cryptocurrency market. However, Allianz’s recent substantial investment into MicroStrategy is undeniably a game-changer.
Allianz, Germany’s largest insurance company, has purchased a significant portion of MicroStrategy’s recent $2.6 billion convertible note issue. Four separate Allianz subsidiaries made this investment, giving them a 24% ownership stake in the U.S. firm that primarily focuses on Bitcoin.
Allianz’s investments might spark a rise in Bitcoin prices since MicroStrategy intends to utilize the received funds to purchase more Bitcoin, along with other corporate objectives.
According to Petruschki, who chose to remain anonymous, the following organizations hold shares in the specified period: Allianz Global Investors Luxembourg (14.34%), Allianz Global Investment of America LP (6.64%), Nicholas Applegate Capital Management Inc (3.74%), and Allianz Global investors GMBH (0.04%).
The news arrives following Bitcoin hitting an all-time peak of $99,000, marking its biggest monthly gain of over 40% and leaving just eight days remaining in November. This momentum aligns with predictions from experts suggesting that the price could surpass $100,000.
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2024-11-22 19:03