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

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MicroStrategy founder Michael Saylor said on Friday that his company purchased an additional $1.1 billion worth of bitcoin.

Founder and Chairman Michael Saylor said the company added another $1.1 billion worth of bitcoin to its coffers.shares jumped more than 8% on Friday after founder Michael Saylor said the company purchased another $1.1 billion worth of bitcoin.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.

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

 

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