Group One acquires 13.5% of the options in MicroStrategy

Group One acquires 13.5% of the options in MicroStrategy

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer Group One acquires 13.5% of the options in MicroStrategy

Group One bought options to buy 1.3 million shares of MicroStrategy (MSTR) for $240 million, according to a Securities and Exchange Commission (SEC) filing.

According to what you reported bloomberg On Tuesday, the purchase would represent a 13.5% stake in MicroStrategy, known as one of the largest holding companies in Bitcoin, also known as Michael Saylor, the CEO and one of the biggest Bitcoin enthusiasts and supporters.

Group One is among the leading market makers and liquidity providers for US stock options and other securities.

While MicroStrategy is an enterprise-oriented software company that is famous for being one of the largest bitcoin holders in the world.

Currently the company owns more than 131,000 BTC, while Saylor personally owns 17,000 BTC.

Read:NEO Network is preparing to launch the new update of the NEO 3.0 blockchain network

Due to its huge exposure to Bitcoin, MSTR stock has become an opportunity for indirect exposure to Bitcoin.

The USA currently lacks a spot bitcoin ETF, which means that formal avenues for gaining direct exposure are limited for US investors.

As such, MSTR stock has also been a victim of Bitcoin’s 2022 storm, dropping 74% over the year.

MicroStrategy suffered a $1 billion loss in the value of its Bitcoin in the second quarter of 2022.

Michael Saylor stepped down as CEO around this time, but the company remained committed to its Bitcoin strategy.

The company conducted its first-ever bitcoin sale late last year offering to sell 704 bitcoins, but that was only to generate a tax advantage by buying those coins days after they were sold.

Read:Learn about the first fraud in a decentralized finance project built on the Tron blockchain

Read also:

Funding of cryptocurrency projects in 2022 decreased by more than 40% compared to 2021…Details here

Almost $3.5 Billion Disappears From Binance… What Happens?

And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
More than 42,000 traders liquidated in the past 48 hours…details here
Next post
The US Securities and Exchange Commission (SEC) is suing cryptocurrency trading platform Gemini