MicroStrategy's Stock Price Surges on AI Partnership and Bitcoin Bet
MicroStrategy's stock price has been volatile, rising by 8.12% after announcing an AI partnership and expansion strategy.
The company posted a massive GAAP loss of over $8.2B due to $8.3B in unrealized bitcoin markdowns while pushing its bitcoin stack toward 846,000 BTC and raising over $4.2B in fresh equity capital.
MicroStrategy has been actively buying and selling bitcoins, with recent sales raising over $213M but still controlling more than 840,000 BTC bought for around $63B.