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July 19, 2024
PI Global Investments

MicroStrategy up 180% this year after debt sale for more bitcoin

Michael Saylor, chairman and CEO of MicroStrategy, speaks during the Bitcoin 2022 conference in Miami on April 7, 2022.

Eva Marie Uzcategui | Bloomberg | Getty Images

Whenever Michael Saylor utters the word “bitcoin,” MicroStrategy shares pop. He has been doing a lot of uttering lately.

On Monday, the MicroStrategy founder posted on social media platform X that his company had just purchased another 12,000 bitcoins for close to $822 million “using proceeds from convertible notes & excess cash.” That brings MicroStrategy’s total holdings to 205,000 bitcoins, which are now worth more than $15 billion, as the cryptocurrency continues to hit fresh highs.

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