Institutional interest in Bitcoin-related stocks is experiencing a remarkable surge.
Recent disclosures reveal that Rockefeller Capital Management, a prominent wealth management firm overseeing an impressive $198 billion in assets, has significantly increased its investment in the Bitcoin treasury company MicroStrategy Inc. (MSTR).
The firm has expanded its stake by an astonishing 146%, now holding a total of 198,283 shares valued at approximately $28 million as of the latest update.
MicroStrategy’s stock has risen over 9% today, reflecting the ongoing bullish trend in Bitcoin.
The leading cryptocurrency itself has seen gains nearing 8%, positioning it to potentially reclaim the $73,000 mark soon.
Institutional Excitement
Rockefeller isn’t alone among major investors ramping up their MSTR holdings. Recent weeks have shown a significant uptick in institutional filings and market activity indicating heightened interest in this Bitcoin treasury company:
Towards the end of February, Amundi—Europe’s largest asset manager with $2.8 trillion under management—reported an extraordinary increase of 373% in its MSTR position.
This move included acquiring an additional 3.77 million shares, bringing Amundi’s total to an impressive 4.79 million shares worth around $641 million.
A day earlier, South Korea’s National Pension Service (NPS), recognized as the third-largest pension fund globally, raised its stake by 20%, totaling 614,409 shares valued at about $83.2 million.
On March 2nd, MicroStrategy announced a dividend increase of 25 basis points on its perpetual preferred stock Stretch ($STRC), elevating the yield to an attractive rate of 11.5%.
This momentum is also capturing attention from affluent executives; for instance, former Sotheby’s CEO Tad Smith expressed on February 27 his dilemma between selling his holdings in $STRC to invest more into both $STRK and MSTR at this time.