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

Linda Yaccarino briefly loses verified X checkmark after stepping down as CEO
Technology

Linda Yaccarino briefly loses verified X checkmark after stepping down as CEO

X Corp’s CEO Linda Yaccarino looks on during the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol in Washington, U.S., January 31, 2024.  Nathan Howard | Reuters Ex-X CEO Linda Yaccarino is still @lindayaX on the social media site, but she briefly lost the blue checkmark next to her account […]

Read More
Tesla moves to expand Robotaxi to Phoenix, following rival Waymo
Technology

Tesla moves to expand Robotaxi to Phoenix, following rival Waymo

CNBC spotted a Tesla robotaxi in Austin, Texas, on June 24, 2025 Katie Tarasov Elon Musk’s Tesla has applied to test and eventually deploy its Robotaxi vehicles in Phoenix, Arizona, following in the footsteps of market leader Waymo. Tesla has applied to conduct autonomous vehicle testing and operations, with and without human safety drivers on […]

Read More
Trump to host Jensen Huang at White House as Nvidia tops  trillion market cap
Technology

Trump to host Jensen Huang at White House as Nvidia tops $4 trillion market cap

Nvidia CEO Jensen Huang delivers remarks next to U.S. President Donald Trump at an ‘Investing in America’ event in Washington, D.C., on April 30, 2025. Leah Millis | Reuters Nvidia CEO Jensen Huang will meet with President Donald Trump at the White House on Thursday, CNBC’s Megan Cassella reported. The meeting comes as Nvidia rose […]

Read More