Morgan Stanley, a New York-based bank acquired 792,627 shares in business intelligence firm MicroStrategy. This is based on its recent filing with the Securities and Exchange Commission released on Jan. 8. 

Morgan Stanley is an American multinational investment bank and financial services company with a $715B AUM. It was originally founded by Henry Sturgis Morgan Sr. and Harold Stanley in 1935. The current Morgan Stanley is the result of the merger of the original Morgan Stanley with Dean Witter Discover & Co. in 1997  Morgan Stanley ranked No. 67 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. The bank has a total revenue of $46.7 billion in 2020.

The company’s investment is equivalent to a 10.9% stake in Microstrategy which has invested heavily in BTC (bitcoin).

Morgan Stanley has made the purchase as stated in the filing on Dec. 31.

The recent investment can be contributed to Microstrategy’s increased in its share value. In data by Nasdaq, the company’s share value had barely reached $300 with its price at $286.21 on Dec. 9. Just a month after, its share value rose to $531.64 with an 85.75% remarkable increase. That’s almost double its one-month previous share value.

Microstrategy share value on Dec 9, 2020

 

Microstrategy share value on Jan 8,2021

Microstrategy started investing in BTC (bitcoin) last August and has made the cryptocurrency its primary reserve asset. Microstrategy now holds an approximate 70,470 bitcoins with its purchases totaled to more than $1B according to its CEO Michael Saylor. With BTC (bitcoin) current price at $40, 528,  Microstrategy has now $2.8B in its treasury reserve.

The growing number of institutions adopting BTC (bitcoin) had caused the price of the digital asset to spike. On Friday, BTC (bitcoin) recorded its new all-time high after breaching the $41K mark. In data by Crypto.co, the virtual asset has almost cracked the $42K with its price at $41, 964. Though it has slightly declined by 3.54%, it’s slowly recovering banking on its $40K base support.

BTc all-time high in Crypto.co

With BTC (bitcoin) doing its crazy swings, investors’ optimism remains high primarily due to the entry of institutional investors in the game.

Will BTC (bitcoin) finally reach the $45K mark and aim higher to breach the $50K mark next time? Let’s all wait for that though experts were saying it’s not too far from being possible given the performance of BTC (bitcoin) for the past few days.