The companies that hate Bitcoin are probably less likely. In the past, they very aggressively rebuked the new asset class as useless. However, this year everything changed, they bought it. Who is that company?
US software company MicroStrategy claims to buy another Bitcoin for US $ 425 million. The investment means that the companies BlackRock, Vanguard and the Norwegian Government Pension Fund are splashed, they must indirectly own Bitcoin.
Based on a rough calculation, the crypto research firm, Arcane Research, there is a certain percentage of shares in MicroStrategy that each company owns.
BlackRock Fund Advisors, one of the world's capital market giants that manages assets of more than US $ 7 trillion, holds a 15.24 percent share of MicroStrategy.
This means that BTC MicroStrategy deposits expose BlackRock to 5,829.3 BTC, or around US $ 0.6 million.
In 2018, BlackRock's head of global investment strategy, Richard Turnill, told investors that crypto assets should only be considered for investors who are prepared to lose their entire investment.
He said BlackRock does not see crypto assets becoming part of its mainstream investment portfolio.
Even though in 2018, Vanguard CEO Tim Buckly said his party would stay away from assets that were not based on economic value or did not generate income and cash flow.
The Norwegian Government Pension Fund, or commonly known as the Oil Fund, holds a stake in MicroStrategy 1.51 percent, worth an exposure of 577.58 BTC or US $ 6 million.
MicroStrategy bought a huge amount of Bitcoin, 21,424 BTC in August 2020 for US $ 250 million and an additional 16,796 BTC last week for US $ 175 million.
In fact, in 2013 MicroStrategy CEO Michael Saylor tweeted, “Bitcoin is finished. It's only a matter of time before Bitcoin has the same fate as online gambling. " When asked about this, Saylor said he doesn't remember saying that.
How many more CEOs and leaders of the financial world will “forget” that they never liked Bitcoin?