Crypto
MicroStrategy Soars 6.72% Amid AI Partnership and Bitcoin Volatility
MicroStrategy's stock has jumped by 6.72% after the company announced its transformative AI partnership, boosting investor optimism.
The company reported a massive GAAP net loss of about $8.2B, driven mainly by $8.3B of unrealized bitcoin fair-value losses as BTC pulled back.
However, MicroStrategy raised more than $4.2B of equity capital, pushed its bitcoin balance toward 846,000 BTC, and ended with about $1.71B in cash and a total USD reserve of $3.75B.
The company has also started tactically selling bitcoin in blocks of 1,638 and 1,690 BTC while still holding about 840,447 BTC bought for roughly $63.36B.