Capital Group acquires 12% stake at MicroStrategy

A few weeks after the initial application to the U.S. Securities and Exchange Commission, capital group allocation at MicroStrategy became official.

A large financial company with over $2 trillion in AUM has purchased almost 1 million shares of an intelligence company with over 100,000 bitcoins.

The Financial Services Company, located in Los Angeles, California, submitted an application to the SEC in late June. Walter Burkley was the senior vice president of the company. He announced it officially yesterday, July 12.

Capital Group bought 12.2% (953.242 shares) of MicroStrategy through Capital International Investors. MicroStrategy was founded and is run by Michael Saylor.

MicroStrategy’s share prices are down 6.3% in a 24-hour period according to data from Nasdaq. They closed at $588, which is roughly 55% below its February peak of $1,315

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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