Saudi Central Bank, URS Take Indirect Bet on Bitcoin Via Strategy Exposure

In a surprising revelation, the Saudi Central Bank recently disclosed that it holds substantial shares in Michael Saylor’s Strategy, formerly known as MicroStrategy. Meanwhile, Utah Retirement Systems (URS) has also increased its MSTR holdings. As the largest institutional investor in Bitcoin, Strategy has made it its primary treasury reserve asset in recent years. Therefore, by investing in Strategy, the Saudi Central Bank is also likely to have substantial exposure to crypto assets like Bitcoin. As per the media reports, the Saudi Central Bank’s SEC 13F filing shows that it now holds 25,656 shares of MicroStrategy Inc., now rebranded as “Strategy”. MicroStrategy’s Bitcoin Bet Strategy holds 568,840 Bitcoin as per the latest report by CoinGape Media, worth close to $68 billion at the current market price. On social media, the crypto community hailed the Saudi Central Bank’s move as a subtle but significant pivot of the central bank toward cryptocurrency. Some… Read More at Coingape.com

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