The Alberta Investment Management Corporation (AIMCo) has made a significant move by acquiring 1,382,000 shares of Strategy (MSTR) for approximately $172.5 million, as revealed in its first quarter 13F filing. This investment, with an average cost of around $125 per share, has appreciated in value, now estimated at $241 million, yielding an unrealized gain of $69 million.
AIMCo, one of Canada’s largest institutional investors, manages over $140 billion for Alberta’s public sector pension plans. The recent purchase marks a return to MSTR for AIMCo, which previously held a smaller stake of 198,000 shares from late 2019 until September 2020. This earlier exit coincided with CEO Michael Saylor’s strategic shift towards Bitcoin as a corporate treasury asset.
According to SEC regulations, a 13F filing is mandatory for institutional investment managers with U.S. equity holdings exceeding $100 million, providing transparency on their investment positions at the end of each quarter. AIMCo’s renewed interest in MSTR reflects a broader trend among institutional investors, who may face limitations on direct Bitcoin holdings and thus seek exposure through companies like Strategy.
In related market movements, Bitcoin has seen a nearly 3% increase over the past 24 hours, now trading around $78,700. Market participants are closely monitoring the cryptocurrency’s ability to surpass the $80,000 mark, which is viewed as a significant threshold for potential new investments.
Additionally, oil prices have experienced a slight decline, contributing to the dynamic nature of the current financial landscape.
AIMCo has re-entered the market for Strategy (MSTR) shares, resulting in a substantial unrealized gain of $69 million. This move highlights the ongoing interest of institutional investors in cryptocurrency-related assets amid evolving market conditions.