Key Highlights:
- MicroStrategy sold 1,261,744 shares to the firm.
- The shares make up 13.5% of the Class A stock of MicroStrategy.
According to a US Securities and Exchange Commission filing, proprietary trading firm Group One Trading held a “beneficial” position that included options to purchase 1.3 million shares of MicroStrategy Inc.
MicroStrategy, the owner of more than 132,500 bitcoin (BTC), is sometimes referred to as a bitcoin proxy since it enables traders who, for legal or other reasons, cannot or do not want to own it to make bets on the direction of the cryptocurrency. With its shares falling more than 70% as bitcoin fell from roughly $48,000 in late March to close the year off at $16,500, MSTR suffered alongside bitcoin in 2022.
Bitcoin has seen a moderate increase so far in 2023, but MicroStrategy shares have increased 30% year to date, including a 7.7% increase on Tuesday.
About Group One
For American equities options and other instruments, Group One acts as a market maker and a source of liquidity. According to the company website, Group One specializes in creating markets for US stock options and offers liquidity for a variety of securities.
About MicroStrategy
The commercial software provider MicroStrategy is well known for being one of the top Bitcoin holders worldwide. The business owns over 131,000 coins, and Saylor owns an additional 17,000 coins.
With its current holdings at about $2.3 billion at today’s values, MicroStrategy has emerged as one of the few publicly traded businesses that hold a significant quantity of Bitcoin in addition to crypto miners. As a result, the company, which has a market valuation of $2 billion, serves as a stand-in for stockholders who want exposure to Bitcoin without actually holding it. As a result, shares of MicroStrategy decreased by 74% in 2022.
