Bill Miller IV Reduced His MicroStrategy (MSTR) Holdings by 70%

Miller Value Partners, led by Bill Miller IV, reduced its MicroStrategy Inc. MSTR holdings by 70% to 15,250 shares from 50,250 shares in the fourth quarter of 2024, according to a 13F-HR filed with the U.S. Securities and Exchange Commission on Feb. 14. By Benzinga.com. Updated Apr. 3, 2020.

Miller Value Partners, the investment firm led by Bill Miller IV, has slashed its stake in MicroStrategy Inc. (NASDAQ:MSTR) by a whopping 70% in the fourth quarter of 2024, according to a Form 13F-HR filing with the U.S. Securities and Exchange Commission on Feb. 14.

What Happened: The firm reduced its holding to 15,250 shares from 50,250 shares, indicating a substantial reduction in its investment in the software company known for its Bitcoin holdings.

With MicroStrategy’s stock price declining from $337.73 to $312.54 by Apr. 2, the investment firm managed to avoid potential losses of about $881,650 with the sale of 35,000 shares.

The firm had initially built its position in MSTR with an investment of $8.47 million, purchasing 50,000 shares at an average price of $327.67 on Nov. 14. This investment yielded significantly lower returns when compared to Bitcoin ETFs in the third quarter.

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Why It Matters: This move continues a family legacy of Bitcoin investment. The founder’s father, Bill Miller III, is a renowned investor who made headlines for his early adoption of Bitcoin in 2012, when he began buying the cryptocurrency at around $700.

The elder Miller, known for his 15-year streak outperforming the S&P 500 Index at Legg Mason Value Trust, has been a strong voice in recommending Bitcoin as a hedge against financial distress.

“Bitcoin is an insurance policy against financial catastrophe, against inflation,” the senior Miller advised in August, suggesting investors allocate about 1% of their liquid assets to the cryptocurrency.

Miller Value Partners currently manages around $290 million in assets through its Miller Income mutual fund and two ETFs, focusing on value investment strategies across different asset classes, including preferred stocks, emerging markets debt, and private equity funds.

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This post was partially written with the help of AI and was edited, reviewed, and published by Benzinga.