Bank of America and Fidelity both have indirect exposure to Bitcoin through increased holdings of MicroStrategy stock in Q1

2023-04-11 15:08:40

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ChainCatcher news, Bank of America and Fidelity held a significant amount of MicroStrategy stock on their balance sheets in the first quarter, indicating that institutions remain interested in indirect Bitcoin exposure. As of the end of March, Bank of America reported purchasing 86,147 shares of MicroStrategy (MSTR) in the first quarter. According to a filing with the U.S. Securities and Exchange Commission, Fidelity increased its holdings by 97,199 shares during the same period.

Since MicroStrategy began holding Bitcoin as a reserve on its balance sheet, the company's stock price has closely tracked the price of Bitcoin. Many traders still view this stock as one of the closest publicly traded proxies for Bitcoin spot exposure. As of April 4, MicroStrategy holds 140,000 Bitcoins.

ChainCatcher previously reported that BofA Securities, Inc. and Fidelity Management & Research Company became two of the top 10 shareholders of MicroStrategy in the first quarter of 2023. (source link)

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Bank of America Fidelity MicroStrategy

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