MicroStrategy stock rose Monday after the company disclosed it bought about 3,500 more Bitcoins in early April, paying roughly $83,000 per coin. This latest purchase brings its total Bitcoin holdings to over 530,000, acquired for nearly $36 billion. MicroStrategy disclosed it sold a large batch of Class A shares to help fund its ongoing Bitcoin purchases through equity and other financial instruments. Once focused on enterprise software, MicroStrategy has rebranded as Strategy and embraced its identity as a Bitcoin-focused company. Shares rose over 3% Monday after a 10% gain Friday, while the S&P 500 and Nasdaq rose about 1%.
