Blackrock, the world’s largest asset manager, has increased its interest in MicroSstratey (MSTR), now known as strategy, to 5%. It appears from a recent Schedule 13G application. This means an increase of 0.91% compared to the earlier interest of 4.09% on September 30, 2024.
What does this step from BlackRock mean?
A Schedule 13G application is submitted when an investor has more than 5% of the shares of a listed company, but has no intention of influencing policy or business operations. This form is mainly used by passive investors, such as large institutional parties, index funds and asset managers.
Institutional investors are obliged to submit this report within 45 days after the end of the year, or within 10 days if their interest exceeds 10%. Blackrock had until February 14, 2025 to announce the change, but has already done this.
Positive price response on Nasdaq
The announcement of BlackRock’s greater interest in Strategy was accompanied by a strong stock market reaction. The Perpetual Preferred Stock Strk from Strategy had a flying start on the Nasdaq. On the first trading day the rate closed 2% higher, with a trade volume of more than 650,000 shares. The positive trend continued in the pre-market, where Strk rose another 5%.
New name, same strategy
The enlargement of the importance by BlackRock follows briefly on the company’s rebranding. Although the name change has no influence on the core activities-Strategy continues to focus on Business Intelligence software-it does underline the dedication to Bitcoin (BTC).
With an impressive reserve of 471,107 BTC, worth more than $ 45.6 billion, Strategy remains the largest corporate bitcoin holder in the world. The close relationship between the company and the crypto sector makes it an attractive choice for institutional investors such as BlackRock.
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Source: https://newsbit.nl/blackrock-verhoogt-belang-in-strategy-naar-5/
