Capital Group Invests $747 Million in MicroStrategy Stock
- Capital Group’s American Funds Fundamental Investors (ANCFX) purchased $747 million worth of MicroStrategy stock (NASDAQ: MSTR).
- MSTR shares surged over 23% in the past week, driven by significant Bitcoin accumulations.
- The fund now holds a total of approximately $1.78 billion in MicroStrategy stock, totaling around 10.33 million shares.
- MicroStrategy’s Bitcoin treasury has acquired a total of about 815,061 BTC valued at nearly $62.27 billion.
- Analysts have given positive ratings for MSTR stock, with price targets set at $385 and $213 by TD Cowen and Cantor Fitzgerald, respectively.
This investment comes as MicroStrategy continues to expand its Bitcoin holdings aggressively, surpassing BlackRock in total Bitcoin assets held. The company plans to adjust its dividend payouts while maintaining an annual yield of 11.5%.
MicroStrategy stock closed at $170.81 on Monday and is trading higher in pre-market hours amid positive market sentiment surrounding US-Iran peace talks and increasing Bitcoin prices around $76,400.(Source)
