MicroStrategy (MSTR) jumps 10% after $2.54B Bitcoin buy

MicroStrategy (MSTR) shares surged more than 10% on Wednesday as Bitcoin's rally continued and the company disclosed another major purchase, CoinDesk reported. Michael Saylor, the firm's former CEO, said Strategy bought 34,164 BTC at an average price of $74,395, spending about $2.54 billion. The transaction lifts the company's total Bitcoin holdings to 815,061 BTC, valued at roughly $61.56 billion. Bitcoin is up 17% this month and extended gains on Wednesday, supporting MSTR, which has already risen more than 32% month-to-date. Bitcoin has added about 3% over the past week, pointing to a broader recovery after a slow start to the year. A few weeks ago, MicroStrategy released first-quarter financial results showing $14.46 billion in unrealized losses on digital assets and $2.42 billion in deferred tax benefits. As of March 31, the company recorded $1.73 billion in deferred tax assets tied to those unrealized losses, along with a matching $1.73 billion valuation allowance. MicroStrategy plans to report earnings on May 5, 2026, after market close. Consensus forecasts call for earnings per share of about $3.41, a 79.32% year-over-year increase. Despite persistent criticism, MicroStrategy remains one of the most prominent corporate Bitcoin holders. Saylor has argued that wider institutional acceptance of Bitcoin as a capital asset, deeper integration into the banking system, and the expansion of products such as exchange-traded funds (ETFs) will continue to boost demand.