George Soros holds shares of MicroStrategy in portfolio

Michael Saylor's MicroStrategy (MSTR) stock is a favorite proxy bet on Bitcoin among institutional investors.

Investment legend George Soros apparently has shares in MicroStrategy, the company of Bitcoin-bull Michael Saylor. This is evidenced by documents from the U.S. Securities and Exchange Commission.

According to the documents, MSTR shares worth US$135 million were added to Soros Fund Management Llc's portfolio in the first quarter of this year. This includes a total of 193 investments worth US$6 billion.

For many TradFi investors, MicroStrategy shares are considered an effective proxy for a Bitcoin investment. And as an unofficial leverage bet on the price of the cryptocurrency. Led by Michael Saylor, the company is known for recurring, massive Bitcoin purchases. Its share price and BTC correlate strongly.

At the latest since the adoption of Bitcoin ETFs in the U.S., institutions are seeing the cryptocurrency as an asset for portfolio diversification. New documents from the U.S. Securities and Exchange Commission reveal that several major banks and funds now hold Bitcoin.

Meanwhile, many small investors, consciously or unconsciously, are also focusing on Bitcoin. This is because MSTR recently became part of the popular MSCI World ETF, which is considered a pillar of every small investor's portfolio.