MicroStrategy's shares surge over 23% as bitcoin portfolio exceeds $13 billion
MicroStrategy, which owns 193,000 bitcoin, had its shares skyrocket by more than 23% on Monday as the price for the cryptocurrency trade above $67,000.The company’s stock of bitcoin exceeded a value of $13 billion.
MicroStrategy, the business intelligence firm best known for commitment to stockpiling bitcoin, saw its shares leap by 24% on Monday as the price of the world's most popular cryptocurrency by market cap passed $67,000.
At market close, MicroStrategy's shares traded at $1,334.01, according to Yahoo Finance, though it immediately tumbled by roughly $100 from that amount just a minute after the bell. The company's massive portfolio of bitcoin is currently worth more than $13 billion. As of 4:05 p.m. ET, bitcoin was up 7.5% in the past 24 hours and trading at a price of $67,624, according to The Block Price Page .
Helmed by Michael Saylor, MicroStrategy first began buying bitcoin in earnest in 2020. Since then, with a market cap north of $22 billion, the company's value has experienced a more than tenfold increase.
MicroStrategy's total bitcoin holdings reached 193,000 on Feb. 26, after it bought an additional 3,000, worth $155 million at the time. The previous month, the firm purchased 850 BTC for $37.2 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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