Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
MicroStrategy (NASDAQ: MSTR) shares have opened lower on Friday following news that the company spent $15 million to buy a further 262 bitcoins for an average price of $57,146.
Shares were down premarket hand opened up Friday’s session at $759.99 from Thursday’s close of $803.75. They are currently trading at $766, down 4.70%.
Bitcoin’s price is once again trading in and around the $58,000 level, down 3% on Friday at $55,954.
MicroStrategy now owns approximately 91,326 bitcoins, paying around $2.2 billion at an average price of $24,214 per bitcoin, meaning at the current value, its total bitcoin holding is worth around $5.1 billion.
The company’s shares have gained almost 700% in the last six months as bitcoins value has surged.
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