Jane Street Sells $40M BTC, Buys MicroStrategy as Brokers Raise Targets 16%
Jane Street reduced its Bitcoin holdings by 20%—selling approximately $40 million of BTC—and acquired a 15,000-share position in MicroStrategy following Terraform Labs’ funding-disclosure allegations. Three major brokerages upgraded MicroStrategy ratings to Buy, lifting their average price targets by 16% on expectations of further cryptocurrency-driven growth.
1. Jane Street Reduces Bitcoin Holdings
Trading records show Jane Street trimmed its Bitcoin exposure by roughly 20%, liquidating about $40 million of BTC over recent sessions. This shift marks one of the firm’s largest digital asset sales in the past quarter.
2. Firm Initiates MicroStrategy Position
Proceeds from the Bitcoin sale funded an initial purchase of 15,000 MicroStrategy shares at an average price near $600. The new equity stake signals confidence in MicroStrategy’s management and its Bitcoin accumulation strategy.
3. Terraform Labs Funding-Disclosure Allegations
The trades follow allegations by Terraform Labs that certain market participants misrepresented their digital asset holdings and funding sources. The dispute has drawn regulatory interest in trading transparency across crypto-focused firms.
4. Brokerages Upgrade MicroStrategy Ratings
Morgan Stanley, UBS and JPMorgan each raised MicroStrategy to Buy, boosting average price targets by 16%. Analysts cited the company’s expanding Bitcoin treasury and potential for recurring revenue from its analytics services.