MicroStrategy Resumes Bitcoin Purchases, Stock Jumps 8% on Price Surge

MicroStrategy's stock jumped 8% on Monday after the company resumed buying Bitcoin. This move comes after a two-week pause in purchases.

The company acquired 950 BTC for approximately $75.7 million, with an average cost per coin of $79,670, including fees and expenses.

This purchase increased MicroStrategy's total Bitcoin holdings to 846,000 BTC, pushing its overall investment in the digital currency to over $63.8 billion at an average cost of $75,416 per coin.

The company's decision to resume buying Bitcoin comes as the cryptocurrency surged past $85,000 for the first time in four months, with its price currently trading at $85,910.

This has resulted in MicroStrategy's Bitcoin holdings sitting on an unrealized gain of approximately $8.9 billion based on the difference between the market price and the company's average acquisition cost.