Allianz Makes Major Investment in Bitcoin Through MicroStrategy Convertible Notes
Great news for Bitcoin enthusiasts! Allianz SE, one of Europe’s top insurance companies and Germany’s largest, recently acquired almost 25% of MicroStrategy’s latest convertible note offering. This move is a big deal, as it shows a major financial institution putting its trust in Bitcoin.
Allianz made this investment by purchasing 24.75% of MicroStrategy’s $2.6 billion note sale aimed at institutional investors, which wrapped up on November 21. According to data from Bloomberg Terminal shared by the analyst Petruschki, Allianz bought a significant portion of MicroStrategy’s 2031 bond across four of its sub-organizations. Specifically, Allianz Global Investors Luxembourg acquired 14.34%, Allianz Global Investors of America LP got 6.64%, Nicholas Applegate Capital Management Inc. secured 3.74%, and Allianz Global Investors GmbH took 0.04%.
In case you’re not familiar, MicroStrategy holds the title of being the largest corporate holder of Bitcoin in the world. Originally announcing a $1.75 billion notes offering on November 18, the company swiftly scaled it up to $2.6 billion just two days later due to strong demand from institutions.
The note offering was finalized on November 21, raising $3 billion in capital as the initial purchasers exercised their option to buy the maximum number of additional notes available. MicroStrategy’s founder and Executive Chairman, Michael Saylor, confirmed the success of the offering.
This investment not only reflects Allianz’s confidence in Bitcoin but also showcases the growing interest of various institutional investors in the cryptocurrency. It’s exciting to see established players entering the space and championing digital assets like Bitcoin.
