What's Going On With Bitcoin-Whale MicroStrategy Stock?

MicroStrategy Incorporated Class A -9.71% Pre

MicroStrategy Incorporated Class A





-1.64% Pre

MicroStrategy Incorporated (NASDAQ:MSTR) shares are trending across social media Thursday and are listed as one of the top trending tickers on Yahoo Finance and Stocktwits.

What To Know:

On Wednesday, MIcroStrategy's CEO Michael Saylor announced the purchase of an additional 14,620 Bitcoins (CRYPTO: BTC) at an average price of $42,110 each for a total value of $615.7 million. After MicroStrategy's latest purchase, the company's total Bitcoin holdings are now valued at $5.9 billion with an average price of $31,168 per Bitcoin.

Last week, Michael Saylor said in an interview with Bloomberg that he believes MicroStrategy stock will remain attractive to investors even if the SEC approves a spot Bitcoin ETF.

“We can take advantage of intelligent leverage,” Saylor said. “We can borrow money at zero percent interest for many many years, and we did that with the convert, and we can use that to buy Bitcoin.”

According to data from Benzinga Pro, MicroStrategy shares marked a new 52-week intraday high of $684 and are up more than 370% year-to-date.

Related News: What's Going On With Shares Of Bitcoin Miner Bit Brother?

MSTR Price Action: According to Benzinga Pro, MicroStrategy shares are trading mostly flat at $664.50 at the time of publication.

Image: GabiUY from Pixabay

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