MicroStrategy stock pops 8% after company ups bitcoin holdings to $14.6 billion

MicroStrategy stock pops 8% after company ups bitcoin holdings to .6 billion


Bitcoin is rising above $64,000, and MicroStrategy shares are soaring by 40% in three days in Suqian, Jiangsu Province, China, on February 29, 2024. 

CFOTO | Nurphoto | Getty Images

MicroStrategy shares jumped more than 8% on Friday after founder Michael Saylor said the company purchased another $1.1 billion worth of bitcoin.

The stock jumped 24% for the week and is now up 124% this year.

Saylor said in a post on X that MicroStrategy’s average purchase price in the four years it’s been buying bitcoin is $38,585 per coin. Bitcoin is currently trading at close to $60,000.

MicroStrategy’s stash of 244,800 bitcoins is worth $14.6 billion.

Founded in 1989, MicroStategy has a business in enterprise software and cloud-based services, but its value is now almost entirely tied to its bitcoin ownership, effectively making the company a proxy for the world’s biggest cryptocurrency. It’s the biggest corporate holder of the asset, according to BitcoinTreasuries.

In Saylor’s Friday post, he added that the “BTC yield,” a metric introduced by MicroStrategy, is 17% for the year. The number suggests that the company has created 17% more value for shareholders by selling stock to buy bitcoin.

“We’re basically giving people different types of bitcoin exposure,” Saylor told CNBC in an interview this week. “MicroStrategy’s mission is to securitize bitcoin and serve as the institutional bridge between traditional, mainstream investors and bitcoin.”

Even after this week’s rally, MicroStrategy shares are about 26% off their March high. The stock closed Friday at $141.47.

But MicroStrategy is far outperforming bitcoin, which is up 35% for the year. Saylor said owning MicroStrategy is a way to invest in bitcoin but with a variety of attributes, such as increased leverage or downside protection.

“A lot of people, they don’t want to own or they can’t own bitcoin,” Saylor said. Some would say, “Give me the volatility of the S&P and half of the performance of bitcoin, and I’d be totally happy,” he said.

Read more about tech and crypto from CNBC Pro

MicroStrategy's Michael Saylor predicts bitcoin could hit $13 million by 2045: CNBC Crypto World



Source

Salesforce adds voice calling to Agentforce AI customer service software
Technology

Salesforce adds voice calling to Agentforce AI customer service software

Salesforce CEO Marc Benioff speaks at the Dreamforce conference in San Francisco on Sept. 17, 2024. David Paul Morris | Bloomberg | Getty Images Salesforce is adding voice to its Agentforce software, letting clients go beyond text when using artificial intelligence agents to respond to customer questions. With Agentforce Voice, companies can customize the tone […]

Read More
Xiaomi shares see biggest drop since April after fatal EV crash sparks safety concerns
Technology

Xiaomi shares see biggest drop since April after fatal EV crash sparks safety concerns

A Xiaomi electric car SU7 in a store in Yichang, Hubei Province, China on July 19, 2025. Cfoto | Future Publishing | Getty Images Chinese tech giant Xiaomi saw its shares fall over 5% on Monday, following reports that the doors of one of its electric vehicles failed to open after a fiery crash in […]

Read More
Dutch government takes control of Chinese-owned chipmaker Nexperia in ‘highly exceptional’ move
Technology

Dutch government takes control of Chinese-owned chipmaker Nexperia in ‘highly exceptional’ move

A close-up view of the Nexperia plant sign in Newport, Wales on April 1, 2022. Matthew Horwood | Getty Images News | Getty Images The Dutch government has taken control of Nexperia, a Chinese-owned semiconductor maker based in the Netherlands, in an extraordinary move to ensure a sufficient supply of its chips remains available in […]

Read More