Allianz, Germany’s largest insurer, bought 24% of MicroStrategy’s $2.6B note.
Allianz, Germany's largest insurance company, is said to have bought nearly a quarter of MicroStrategy for $2.6 billion.
Allianz – the second largest insurance provider in Europe – acquired 24.75% of MicroStrategy's $2.6 billion note sale, which closed on November 21.
The insurance giant made its investments in four different subsidiaries, according to Bloomberg Terminal data shared by anonymous analyst Petrushki in a Nov. 22 X post. Petrushki said:
“The works were registered in July and October. The shares are held by the following subsidiaries: Allianz Global Investors Luxembourg 14.34%, Allianz Global Invests of America LP 6.64%, Nicholas Applegate Cap MGMT IN 3.74% and AllianzGlobal Investors GMBH 0.04%.
Allianz MicroStrategy Investments, Bloomberg Terminal Source: Petruschki
Allianz's significant investment could have a direct impact on Bitcoin (BTC)'s price rally, as MicroStrategy plans to use the funds to “acquire more Bitcoin and for general corporate purposes.”
BTC/USD, 1-month chart. Source: Cointelegraph
The news comes shortly after Bitcoin posted its biggest ever monthly candlestick above $99,000, eight days into November – beating analysts' expectations for a rally above $100,000. Consolidation.
Cointelegraph has contacted the insurance company for comment. Heidi Polke, Allianz's head of media relations, had no comment on the matter.
Related: US Bitcoin Reserve Could Take BTC To $1M During Trump Presidency
Saylor Microstrategy Completes $3 Billion Note Sale in Bitcoin Rally
MicroStrategy originally planned to offer a total of $1.75 billion of notes, first announced in a Nov. 18 filing.
However, the world's largest corporate bitcoin holder decided to raise its note sale to $2.6 billion just two days later on November 20.
Related: Shiba Inu whale holds 10% of SHIB supply from 250,000x to $2.5B.
MicroStrategy completed the note offering on November 21, raising $3 billion in capital during the initial purchase of the largest number of additional notes, said Michael Saylor, founder and CEO of MicroStrategy.
MicroStrategy has completed $3 billion in sales. Source: Michael Saylor
MicroStrategy's newly raised capital could push it above $100,000 before the end of the month, said Ryan Lee, principal analyst at Bitget Research.
The analyst told Cointelegraph:
“If history repeats itself and Bitcoin prices grow as planned, 14.7% from current price levels will put the coin above the $100,000 monthly target. The post-half cycle trend is also very positive in predicting Bitcoin's future.”
However, others are worried about the rising interest in crypto markets. In the year On November 12, Crypto.com co-founder and CEO Chris Marszalek warned that the crypto market would need to collapse before Bitcoin reaches $100,000.
Magazine: Bitcoin's Dominance Will Fall by 2025: Benjamin Cowen, X Flame Hall
