An investment firm says it has purchased a sizable stake in MicroStrategy, an enterprise software company founded by Bitcoin (BTC) bull Michael Saylor.
According to a filing with the U.S. Securities and Exchange Commission (SEC), Capital International Investors added 953,242 shares of MicroStrategy (MSTR) to its holdings, worth nearly $600 million.
With the investment, Capital International Investors is now MicroStrategy’s second-largest shareholder, according to FactSet. The investment falls short of Twitter CEO Jack Dorsey’s digital payment company, Square, which holds 1,091,991 shares in MicroStrategy.
According to Fintel, which tracks corporate portfolio holdings based on public disclosures, Capital International Investors has more than $395 billion in assets at time of writing.
Following Capital International’s disclosure, MSTR stock jumped 2.3%, and is trading at $628.66 at time of writing.
MicroStrategy established itself as an influential player in the cryptocurrency industry after buying billions of dollars’ worth of BTC in 2021.
The company currently holds over 100,000 BTC, worth more than $3.55 billion.