u.today
Hungarian-American billionaire hedge fund manager George Soros recently disclosed his first quarter (Q1) 2024 holdings in a 13-F filing. According to the disclosure, Soros Fund Management LLC declared 193 holdings valued at about $6 billion.
George Soros invests in MicroStrategy
The most intriguing stock among the top holdings held by Soros in Q1, 2024, is MicroStrategy (MSTR) shares, worth over $135 million. Since its BTC strategy introduction by cofounder Michael Saylor, shares of MicroStrategy have been regarded as one of the best options to gain exposure to Bitcoin (BTC) without holding the cryptocurrency.
However, with the recent introduction of spot Bitcoin Exchange-Traded Funds (ETFs), this notion no longer holds true.
Saylor began purchasing BTC in 2020 as a store of value and a hedge against inflation.
The company has benefited greatly from Bitcoin's 2024 surge and currently holds 214,400 BTC, translating to approximately $14.5 billion at the current market price.
Soros's investment in MicroStrategy contradicts warnings from CNBC host Jim Cramer. As U.Today earlier reported, Cramer advised investors to buy Bitcoin directly instead of buying stock from MicroStrategy.
Besides MicroStrategy, other major companies represented in Soros's portfolio include AerCap Holdings and Rivian, the embattled electric vehicle (EV) maker.
MicroStrategy's phenomenal Q1 performance
Shares of MicroStrategy did exceptionally well in the first quarter of this year. Accordingly, the MSTR stock was included in the MSCI World Index earlier in the month. This is a huge achievement for the company as this index captures large and mid-cap companies across 23 developed markets.
Shares of MicroStrategy rose to over 100% in 2024, eclipsing Bitcoin's performance. At press time, MSTR trades at $1,684, representing an increase of 9.12% in the past day.
MicroStrategy's market cap currently stands at $28.9 billion. Still, the stock is down from its 2024 peak of $1,919.