Proprietary trading firm Group One buys a 13,5% stake in MicroStrategy
Earlier, MicroStrategy sold some bitcoins for the first time ever
11.01.2023 - 08:55
277
1 min
0
Proprietary trading firm Group One Trading took a “beneficial” position that includes options to buy 1.3 million shares of MicroStrategy Inc., according to an US Securities and Exchange Commission filing.
Group One is focused on making markets in US equity options and provides liquidity across a range of securities, according to the firm’s website.
MicroStrategy has become one of the few public companies that hold a large amount of Bitcoin besides crypto miners, with its current stash worth almost $2.3 billion at today’s prices. That makes the firm, with a market capitalization of $2 billion, a proxy for stock investors that want exposure to Bitcoin without directly holding the digital asset. MicroStrategy’s shares fell 74% in 2022.
The Tysons Corner, Virginia-based company has remained a net buyer even as Bitcoin prices plummeted and has taken out loans to fund its coin purchases. MicroStrategy’s co-founder Michael Saylor, a strong advocate of Bitcoin, gave up his chief executive officer title in August after a loss of more than $1 billion related to the second-quarter plunge in Bitcoin prices.
MicroStrategy did not immediately respond to requests for comment.
(Corrects an earlier version of the story that identified the transaction as an equity purchase of Class A shares.)
This material is taken from the website bloomberg.com.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 528
BTC
-0.95%
-
Ethereum
$3 341.46
ETH
-1.21%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.54
XRP
+11.46%
-
Dogecoin
$0.457901
DOGE
+16.01%
-
Cardano
$1.09
ADA
+25.78%
-
Stellar XLM
$0.433972
XLM
+54.56%
-
Polkadot
$7.54
DOT
+22.77%
-
Bitcoin Cash
$530.74
BCH
+7.08%
-
Litecoin
$101.41
LTC
+12.66%