Shares of MicroStrategy rose 2.3% after Capital International Investors announced it had purchased a major MSTR stake.
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Capital International, which manages nearly $400 billion in assets, has purchased $600 million of MicroStrategy shares, according to a filing with the U.S. Securities and Exchange Commission (SEC). The company currently owns 953,242 shares, or 12.2% of MicroStrategy’s Class A shares, making Capital International the second largest shareholder.
Capital International did not own any Microstrategy shares in its most recent 13F application. The stock of MicroStrategy, which is said to have held a Bitcoin show because it said it bought more than $2.7 billion in Bitcoin last month, has fallen 11.0% in the past three months. Bitcoin fell 42.4%, while the S&P 500 SPX gained 5.7%.