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Group One Took A Beneficial Position To Buy 1.26 Million Shares Of MicroStrategy

Key Points:

Group One, a proprietary trading company, acquired “beneficial ownership” of MicroStrategy, which includes the right to acquire 1.26 million shares of Class A ordinary stock.
Group One has been in operation since 1989 and primarily serves the options trading sector. It continues to have a physical presence on the Chicago Board of Options Exchange, the Amex and Arca of the New York Stock Exchange, and the Nasdaq PHLX.

According to a document submitted to the U.S. Securities and Exchange Commission, proprietary trading company Group One acquired “beneficial ownership” of MicroStrategy, which includes the right to purchase 1.26 million shares of Class A common stock.

According to the company website, Group One specializes in creating markets for US stock options and offers liquidity for a variety of securities.

According to its website, Group One, which is based in Chicago, has been in operation since. 1989 and primarily serves the options trading sector. It continues to have a physical presence on the Chicago Board of Options Exchange, the Amex and Arca of the New York Stock Exchange, and the Nasdaq PHLX.

With a total holding of around 132,500 BTC as of December 28, MicroStrategy has emerged as one of the few publicly traded companies that own a significant amount of Bitcoin (BTC) 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. In 2022, shares of MicroStrategy decreased by over 70%.

Even as Bitcoin prices fell, the Tysons Corner, Virginia-based company continued to be a net buyer and has taken out loans to pay for its coin acquisitions.

Michael Saylor, a proponent of Bitcoin and co-founder of MicroStrategy, resigned as CEO in August after suffering a loss of more than $1 billion as a result of the second quarter’s collapse in Bitcoin prices.

At the time of writing, BTC is trading at $17,417.

BTC daily chart. Source: Coincu

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.