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Germany’s largest insurance company, Allianz, has reportedly purchased nearly a quarter of MicroStrategy’s $2.6 billion convertible note offering, signaling increasing institutional interest in Bitcoin.
Allianz — the second-largest insurance provider in Europe — has acquired 24.75% of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/micro-strategy-to-sell-2-6-b-in-notes-increasing-from-1-75-b-to-fund-bitcoin-purchases" rel="null" target="null" text="null" title="null">MicroStrategy’s $2.6 billion</a> note sale for institutional investors, which closed on Nov. 21.&nbsp;
The insurance giant made the investment across four different sub-organizations, according to Bloomberg Terminal data <a data-ct-non-breakable="null" href="https://x.com/petruschkii/status/1859881777940283522/photo/1" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/petruschkii/status/1859881777940283522/photo/1">shared</a> by pseudonymous analyst Petruschki in a Nov. 22 X post. Petruschki stated:
<blockquote>
 “The positions were filed in July and October. The shares are held by the following sub-organizations: Allianz Global Investors Luxembourg 14.34%,&nbsp;Allianz Global Inv Of America LP 6.64%, Nicholas Applegate Cap MGMT Inc 3.74% and AllianzbGlobal investors GMBH 0.04%.”
</blockquote>
<figure>
 <img alt="Allianz, Germany’s biggest insurer, buys 24% of MicroStrategy’s $2.6B notes" src="https://s3.cointelegraph.com/uploads/2024-11/019353d0-ce24-7c8c-905c-7c24657a6ddb" title="">
 <figcaption style="text-align: center;">
 Allianz MicroStrategy investment, Bloomberg Terminal. Source: Petruschki
 </figcaption>
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A significant portion of Allianz’s investment could directly influence the Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) price rally, as MicroStrategy plans to use the funds to “acquire additional Bitcoin and for general corporate purposes.”
<figure>
 <img alt="Allianz, Germany’s biggest insurer, buys 24% of MicroStrategy’s $2.6B notes" src="https://s3.cointelegraph.com/uploads/2024-11/019353d1-b17e-7a2a-9faf-8d33b412ae81" title="">
 <figcaption style="text-align: center;">
 BTC/USD, 1-month chart. Source: Cointelegraph
 </figcaption>
</figure>
The news comes shortly after<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-record-40-monthly-candle-crosses-99-k" rel="null" target="null" text="null" title="null"> Bitcoin crossed the $99,000</a> record high after printing the biggest-ever monthly candle of over 40%, with eight days left before the end of November — bolstering <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-to-breach-100-k-in-nov-trump-mulls-crypto-friendly-cftc-chair-finance-redefined-nov-8-15" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-to-breach-100-k-in-nov-trump-mulls-crypto-friendly-cftc-chair-finance-redefined-nov-8-15">analyst expectations for a rally above $100,000</a>.
Cointelegraph approached the insurance company for comment. Allianz’s head of media relations, Heidi Polke, had no comment to share on the matter.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-strategic-bitcoin-reserve-trump-presidency-1-m-btc-signal" rel="null" target="null" text="null" title="null">US Bitcoin reserve during Trump presidency could pump BTC to $1M</a>
<h2 id="saylor-s-microstrategy-completes-3-billion-note-sale-amid-bitcoin-rally">Saylor’s MicroStrategy completes $3 billion note sale amid Bitcoin rally</h2>
MicroStrategy initially planned an <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/microstrategy-buy-bitcoin-senior-convertible-notes" rel="null" target="null" text="null" title="null">offering of $1.75 billion</a> aggregate principal amount of notes, which was first announced in a Nov. 18 <a data-ct-non-breakable="null" href="https://www.businesswire.com/news/home/20241120130094/en/" rel="null" target="null" text="null" title="null">statement</a>.
However, the world’s largest corporate Bitcoin holder decided to upsize the note sale to $2.6 billion just two days later, on Nov. 20.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/shiba-inu-whale-holds-10-shib-supply-250-000x-2-5-b" rel="null" target="null" text="null" title="https://cointelegraph.com/news/shiba-inu-whale-holds-10-shib-supply-250-000x-2-5-b">Shiba Inu whale holds 10% of SHIB supply, up 250,000x to $2.5B</a>
MicroStrategy completed the note offering on Nov. 21, raising $3 billion worth of capital, signaling that initial purchasers bought the maximum amount of additional notes during the offering, according to <a data-ct-non-breakable="null" href="https://cointelegraph.com/people/top-people-in-crypto-and-blockchain-2022/michael-saylor/" rel="null" target="null" text="null" title="null">Michael Saylor</a>, the founder and CEO of MicroStrategy.
<figure>
 <img alt="Europe, Bitcoin Price, Investments, Germany, Allianz, MicroStrategy, Bitcoin Adoption, Michael Saylor" src="https://s3.cointelegraph.com/uploads/2024-11/019353ea-d59e-7016-b5a9-487d64363a6c" title="">
 <figcaption style="text-align: center;">
 MicroStrategy completes $3B sales. Source: Michael Saylor
 </figcaption>
</figure>
MicroStrategy’s newly-raised capital could push Bitcoin above the $100,000 all-time high, which could occur before the end of the month, according to Ryan Lee, chief analyst at Bitget Research.
The analyst told Cointelegraph:
<blockquote>
 “If history repeats itself and Bitcoin prices grow as projected, a 14.7% from the current price level will push the coin well above the $100,000 target for the month. The post-halving cycle trend is also very positive when projecting the future of Bitcoin.”
</blockquote>
Yet others worry about the growing leverage in crypto markets. On Nov. 12, Kris Marszalek, the co-founder and CEO of Crypto.com, warned that the crypto market will <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-market-enters-extreme-greed-needs-deleveraging-before-100k-btc" rel="null" target="null" text="null" title="null">need deleveraging before Bitcoin</a> can breach $100,000.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-dominance-crypto-predictions-bull-run-benjamin-cowen-hall-of-flame/" rel="null" target="null" text="null" title="null">Bitcoin dominance will fall in 2025: Benjamin Cowen, X Hall of Flame</a>

Allianz, Germany’s biggest insurer, buys 24% of MicroStrategy’s $2.6B notes

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