Europe’s second-largest insurer Allianz (ETR:ALVG) Insurance now owns 25% of the convertible bonds of the largest corporate Bitcoin holder MicroStrategy. The purchase price was $750 million.
, Allianz is the largest buyer of MicroStrategy’s convertible bonds, ahead of other companies: Calamos Investments, Context Capital Management, State Street, Fidelity Investments and BlackRock.
Many in the crypto community see the deal as a sign that the insurer supports Michael Saylor’s strategy of investing in Bitcoin.
This is the only way the insurer can get access to BTC, as they are not allowed to directly buy securities or cryptocurrency, one trader wrote on social media.
MicroStrategy is the largest corporate holder of Bitcoin. The latest purchase of 51,780 BTC increased the company's Bitcoin holdings to 331,200 coins, which at the current price of the flagship asset are valued at approximately $32.6 billion.
MicroStrategy Stock Chart for the Year
According to the data for the day, MicroStrategy shares have risen in price by more than 30% to $430. Despite this, over the past five days, the company's securities have grown by 22.13%,
