Bank of America and Fidelity Become Top Shareholders of MicroStrategy According to Bitcoin News Reports

According to reports, Bitcoin News stated on social media that Bank of America and Fidelity both became the top 10 shareholders of MicroStrategy in the first quarter of 2023.

Bank of America and Fidelity both became the top 10 shareholders of MicroStrategy in the first quarter of 2023

Outline

1. Introduction
2. Who is MicroStrategy?
3. Fidelity and Bank of America’s Purchase
4. Implications of the Investment
5. Relationship Between Bitcoin and MicroStrategy
6. Other Major Shareholders
7. Future of MicroStrategy
8. Conclusion
9. FAQs

Article

The world of cryptocurrency has been all over the news recently, with Bitcoin grabbing the headlines day after day. However, a recent report by Bitcoin News has revealed that Bank of America and Fidelity both became the top 10 shareholders of MicroStrategy in the first quarter of 2023.

Who is MicroStrategy?

Before we delve deeper into the report, let’s first get an understanding of who MicroStrategy is. MicroStrategy is a business intelligence software company based in Virginia, USA. The company has been in the news recently due to its large investment in Bitcoin. In 2020, MicroStrategy decided to invest all of its cash reserves into Bitcoin, buying over 91,000 BTC. Since then, the stock price of MicroStrategy has been closely tied to the price of Bitcoin.

Fidelity and Bank of America’s Purchase

According to the report, Bank of America and Fidelity both became major shareholders of MicroStrategy in the first quarter of 2023. Fidelity Investments, which is a financial services company based in Boston, has reportedly purchased 44,205 shares of MicroStrategy, which is worth $26.6 million as of March 31. On the other hand, Bank of America has acquired 34,384 shares in the same period which is worth 20.7 million dollars.

Implications of the Investment

This news is significant as it underscores the increasing confidence in MicroStrategy’s investment in Bitcoin. Companies like Bank of America and Fidelity do not invest in companies without careful analysis and researching, indicating that MicroStrategy’s bet in Bitcoin is garnering attention from institutional investors. The investment also suggests that other institutional investors may follow suit to invest in companies that have a significant Bitcoin holding.

Relationship Between Bitcoin and MicroStrategy

Earlier this year, MicroStrategy CEO Michael Saylor confirmed that the company has no plans to sell its Bitcoin holdings, even in the current volatile markets. He believes that Bitcoin is the future and is highly optimistic about its prospects. The news of Fidelity and Bank of America’s investment indicates that institutional investors are also gaining confidence in Bitcoin.

Other Major Shareholders

Apart from Fidelity and Bank of America, there are various other investors who hold significant shares of MicroStrategy. Vanguard Group Inc, a US investment management company, holds the largest shares of around 2 million shares of MicroStrategy which is worth $1.4 billion. BlackRock Inc, an investment management firm, holds a total of 1.2 million shares of MicroStrategy which is worth $850 million as of the end of the first quarter of 2023.

Future of MicroStrategy

With the recent investment by Fidelity and Bank of America, the spotlight is now on MicroStrategy. The investment indicates that Bitcoin is not just the future, but it has already arrived. It will be interesting to see how MicroStrategy’s stock price reacts in the coming months.

Conclusion

The news of Fidelity and Bank of America’s investment in MicroStrategy is a strong signal of the increasing mainstream adoption of Bitcoin. With prominent traditional financial players backing a company that has invested heavily in Bitcoin, the digital currency’s credibility as an asset class continues to grow. It appears that Bitcoin is here to stay, and institutional investors are starting to recognize this.

FAQs

1. What is MicroStrategy?
MicroStrategy is a business intelligence software company based in Virginia, USA.
2. What was MicroStrategy’s investment in Bitcoin?
In 2020, MicroStrategy decided to invest all of its cash reserves into Bitcoin, buying over 91,000 BTC.
3. Who are MicroStrategy’s major shareholders?
Vanguard Group Inc and BlackRock Inc are the two largest shareholders of MicroStrategy. However, Fidelity and Bank of America have become top 10 shareholders in the company in the first quarter of 2023.