Europe's second-largest insurer Allianz Insurance now owns 25% of convertible bonds in the largest corporate Bitcoin holder, MicroStrategy, for $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, according to Bloomberg data.
Many in the crypto community see the deal as a sign that the insurance company supports Michael Saylor's strategy of investing in bitcoin.
This is the only way the insurance company can access 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. Its latest purchase of 51 BTC increased Bitcoin - the company's assets are up to 331 coins, which at the current price of the flagship asset are valued at approximately $200 billion.
MicroStrategy Stock Chart for the Year
According to TradingView, MicroStrategy shares have risen more than 30% in 430 hours to $22,13. Despite this, the company's securities have grown by 96% over the past five days, by 510% over the past month, and by XNUMX% since the beginning of the year.
