Germany’s largest insurance company, Allianz, has reportedly acquired a 24% stake in MicroStrategy’s recently issued $2.6 billion convertible notes. These notes are part of MicroStrategy’s ongoing capital-raising efforts to expand its Bitcoin holdings.
Allianz executed the transaction through four separate affiliated entities, as revealed by Bloomberg Terminal data cited by pseudonymous analyst Petruschki in a post on X.
“The positions were filed in July and October. The shares are held by the following sub-organizations: Allianz Global Investors Luxembourg 14.34%, Allianz Global Inv Of America LP 6.64%, Nicholas Applegate Cap MGMT Inc 3.74%, and AllianzbGlobal investors GMBH 0.04%,” Petruschki said.
The latest move comes as the business intelligence company announced plans to raise $2.6 billion from senior convertible notes at a 0% interest rate to purchase more BTC. The move further cemented the company’s commitment to the digital asset as a long-term investment strategy.
MicroStrategy Completes $3B Note
According to MicroStrategy, the note sale was increased from the initially planned offering of $1.75 million in aggregate principal amount of notes on November 18, 2024.
According to a press release, MicroStrategy also secured $3 billion in funding through a note offering on November 21. Initial buyers acquired the total allocation of additional notes.
The company’s strategic focus on Bitcoin has attracted attention from institutional investors like Allianz, which views such investments as a hedge against inflation and a way to capitalize on the growing digital asset market.
MicroStrategy’s recently secured capital could propel Bitcoin to surpass its $100,000 milestone, potentially within the month, as projected by Ryan Lee, the lead analyst at Bitget Research.
As BTC nears the $100,000 mark, crypto investors have profited from the market. As of the time of writing, the crypto asset is trading at $97,600, with a market capitalization of over $1.9 trillion.
Mara Holdings Raises $1B For More BTC
MicroStrategy is not the only company that has raised funds to acquire more BTC. Recently, crypto mining and blockchain technology company Mara Holdings completed a $1 billion offering of 0% convertible senior notes due in 2030. The firm also plans to use the proceeds for strategic investments, operational growth, and the acquisition of more BTC.
