Software developer MicroStrategy holds more than 140,000 bitcoins.
Company founder Michael Saylor believes that in the medium term, BTC could accumulate up to 80% of the capital circulating in the cryptosphere.
U.S. financial giants BlackRock, Bank of America and Fidelity are increasing investments in MicroStrategy (MSTR) shares. They have invested more than $200 million in the company’s securities, CoinDesk reports.
For example, the second-largest U.S. bank Bank of America, which manages more than $3 trillion in assets, invested another $59.5 million in MicroStrategy, so its stake rose to 2.3%.
The Fidelity giant, which manages a $4.5 trillion portfolio, spent over $25 million and now holds a 1% stake in the software developer.
National Bank of Canada invested more than $250,000 to buy MicroStrategy stock this year. BlackRock has invested more than $150 million in the company, and its stake in the company has risen to 6%.
U.S. financial giants are buying MSTR stock to indirectly gain access to the bitcoins the company owns, experts believe. Thus, they are betting on the long-term growth of the asset.
Standard Chartered Bank recently predicted that BTC will enter a long-term growth phase in 2024.