No Need to Convince Shareholders - Microstrategy s Investors Already Sold on Bitcoin, Says Analyst
Investment banker Ellie Frost has put out a Twitter thread showing that four of Microstrategy’s top 10 shareholders had already been bullish on bitcoin before Michael Saylor company’s big dive into the digital asset.
According to Frost, Microstrategy did not have much convincing to do, as top shareholders Blackrock, Russell Investments, Renaissance Tech, and Citron Fund already had documented interest in bitcoin (BTC).
Saylor has stated that it only took six months to get investors’ approval for moving $250 million into BTC – a process Frost argues should take about a year, at the minimum. In her final analysis, the tech investment banker observed: