Allianz, Germany’s largest and Europe’s second largest insurer, has purchased 24.75%, or about a quarter, of the $2.6 billion convertible bond that MicroStrategy will use to buy Bitcoin.
At this point, the insurance giant has purchased approximately $650 million of MicroStrategy’s $2.6 billion Bitcoin (BTC) investment bonds.
These acquisitions were made through four different subsidiaries of Allianz. Accordingly, Allianz completed its investment through four different subsidiaries: 14.34 percent for Allianz Global Investors Luxembourg, 6.64 percent for Allianz Global Inv Of America LP, 3.74 percent for Nicholas Applegate Cap MGMT Inc and 0.04 percent for AllianzbGlobal investors GMBH.
Experts evaluating this acquisition said that Allianz's investment in MicroStrategy bonds signals the beginning of a new era in corporate adaptation.
Experts also added that this situation shows that institutional investors' interest in Bitcoin and the cryptocurrency market is increasing.
Recently, MicroStrategy founder Michael Saylor stated that the bond total had been increased to $ 2.6 billion and that the funds raised would be used to purchase additional Bitcoin.
*This is not investment advice.
