MicroStrategy stock price rebounds after $200 million+ bitcoin purchase

After seeing its stock price slide this week, MicroStrategy's shares rose on Friday.

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.

Source - The Street

Read more