Investor Jayce Ni bought 792,600 shares of MicroStrategy at an average price of about $135 per share, investing a total of $107 million. It was his largest single purchase in three years.
MicroStrategy’s performance is closely linked to the cryptocurrency market. The purchase is seen as a sign of confidence in the company’s strategy and Bitcoin’s long-term value.
Executive Chairman Michael Saylor hinted that the company may buy more Bitcoin. MicroStrategy already holds 848,250 BTC.
Separately, Marathon Digital (MARA), the largest publicly traded Bitcoin miner, was reported to have moved 1,000 BTC to exchanges, prompting speculation about its intentions.