Allianz Insurance buys nearly 25% of MicroStrategy’s bonds

German insurance giant Allianz Insurance is buying about 25% of MicroStrategy’s convertible bond offerings valid through 2031.

Europe’s second-largest insurer now holds a quarter of MicroStrategy’s bonds from previous convertible note sales. The value of the banknotes held by Allianz is around 750 million dollars.

The cInsurance company purchased 24.75% of MicroStrategy’s 2031 convertible bond offerings, which sold for $3 billion, during a three-day private offering to institutional buyers.

According to data on Bloomberg’s page, Allianz is the largest buyer of MicroStrategy’s convertible bond offerings, leaving behind other major institutions such as Calamos Investments, Context Capital Management, State Street, Fidelity Investments and BlackRock.

MicroStrategy’s shares are down more than 16% in the last 24 hours, falling to $419, according to TradingView data. Even so, the stock has gained 18.03% in the last five days, 83% in the past month and 473% since the beginning of the year.

Following the increase, MicroStrategy stock was called the “most traded stock in America.”

Many traders on

This is largely due to MicroStrategy’s announcement that sales from its recent convertible note offerings will be used to purchase more Bitcoin (BTC).

“Allianz giving almost a billion dollars to Michael Saylor to buy Bitcoin was definitely not on my 2024 bingo card,” said one X user.

“This is the only way an insurance company can gain exposure to BTC because they are not allowed to purchase securities or BTC directly,” another user said.

MicroStrategy holds the title of largest institutional owner of Bitcoin. The latest purchase of 51,780 BTC brings the company’s Bitcoin holdings to 331,200 BTC, or over $32.6 billion after Bitcoin recently surpassed $99,000.