Options trading company “Group One” allocated its position to Bitcoin bull company Microstrategy.
Microstrategy is a publicly listed company, which trades under MSTR index on the Nasdaq exchange. Michael Saylor is the founder & former CEO of this business intelligence company and under his leadership, the company purchased 130,000 Bitcoins to add to the company’s balance sheet.
In a recent filing of the company with the U.S. Securities and Exchange Commission (SEC) revealed that Options trading firm Group One took a “beneficial ownership” position in MicroStrategy that includes the option to buy 1.26 million shares of Class A common stock.
Options trading company Group One has been active in its business since 1989. And its latest decision to allocate a position in Microstrategy is showing that Microstrategy is standing in a better position among the top public companies.
Bitcoin focussed initiatives
In Q3 2022, Michael Saylor stepped down from his CEO role and secured the Executive Chairman position in the company. Many reports claimed that Saylor stepped down from his role because the company lost huge money because of its investment in Bitcoin.
But later, Saylor officially talked about this thing and confirmed that he took this decision as a part to increase the focus of the company on bitcoin-related works.
Last month, Saylor disclosed in a Twitter space discussion that his company is working on a “Bitcoin lightning network”, to make Bitcoin transactions affordable to people.
At the time of writing this article, the price of Bitcoin is $17,460 and this price is 3.55% higher over the last 7 days’ trade price.
The current trade price of MSTR is $190, which is 8.57% high over the last 24 hours.