MicroStrategy stock price rebounds after $200 million+ bitcoin purchase
On Friday afternoon, MicroStrategy’s share price rose to $341.14, after a rocky 24 hours when share prices tanked 40%. Earlier this week, the firm – the world’s largest corporate holder of bitcoin – announced the acquisition of 2,138 bitcoin, at a price of roughly $97,837 per bitcoin. The buy represents an investment of approximately $209 million for the software intelligence company – marking the company’s eighth week in a row of consistent bitcoin purchases.
MicroStrategy’s latest purchase brings the company’s total holdings to 446,400 bitcoin, accumulated at an aggregate cost of around $27.9 billion, averaging approximately $62,428 per bitcoin.
Earlier this month, the company also won a coveted spot on the Nasdaq…
