MicroStrategy (MSTR) disclosed the acquisition of 1,287 BTC and $62 million in cash, funded through common stock sales under its ATM program, causing the stock to jump 3.30% to $162.35 as it tracked the positive crypto market sentiment.
- The stock's upturn correlates directly with the broader crypto market rally, which saw BTC rise 2.49% since the previous close.
- The intraday surge occurred despite existing concerns regarding stock dilution and a reported $17 billion unrealized loss on the company's existing Bitcoin holdings.