MicroStrategy's stock surges as bitcoin purchases resume, lifting holdings to above 600,000

By Tomi Kilgore and James Rogers

The bitcoin rally has also lifted shares of crypto-friendly stocks Genius Group, GameStop, Robinhood and Coinbase

Shares of MicroStrategy Inc. rallied toward an eight-month high on Monday after the software and bitcoin-treasury company disclosed that it has resumed buying bitcoin, as prices surged further into record territory.

The company (MSTR), which is doing business as Strategy, said it now owns more than 600,000 bitcoins, valued at more than $70 billion at current prices.

The disclosed purchases come as bitcoin (BTCUSD) rose to trade above $121,000 before pulling back to around $120,064 in afternoon trading. It has run up 11.1% over the past week and was headed for a third straight record close. The rally comes as Congress looks at a number of pieces of crypto-related legislation during what has been dubbed "Crypto Week."

MicroStrategy's stock surged 4% in morning trading toward its second-highest closing price, behind only its record close of $473.83, reached on Nov. 20, 2024. The stock subsequently pared its gains and was up 3.3% in afternoon trading.

The company said it sold about 797,000 shares of common stock and a total of about 1.18 million shares of preferred stock during the week of July 7-13.

MicroStrategy used the money raised from the share sales to buy 4,225 bitcoins for $472.5 million last week, at an average price of $111,827 per bitcoin.

The resumption of purchases followed a week, through July 6, in which the company made no bitcoin purchases, snapping a 12-week streak of bitcoin purchases.

As of Sunday, the company owned 601,550 bitcoins, which it purchased for a total of $42.87 billion at an average price of $71,268 per bitcoin. At current prices, the holdings would be valued at $73.21 billion.

MicroStrategy's stock has soared 55% in 2025, while bitcoin has run up 28.5% and the S&P 500 index SPX has advanced 6.6%.

MicroStrategy isn't the only company looking to ride the bitcoin rally. Singapore-based education company Genius Group Ltd. (GNS) said Monday that it bought 32 bitcoins on July 12, boosting its holdings to 180 bitcoins, at an average price of $105,568 per bitcoin.

Genius Group's stock rose 2.2% toward an 11-month high in morning trading before pulling back. The stock was up 0.6% in afternoon trading.

That came about a week after the company increased its bitcoin-treasury target 10-fold, to 10,000 bitcoins from 1,000 bitcoins.

Other stocks are also rising on bitcoin's rally. Shares of videogame retailer and original meme stock GameStop Corp. (GME) were up 1.3% in afternoon trading, and the stock is on pace to extend its winning streak to three days. In May, GameStop announced its first purchase of bitcoin.

In March, GameStop's board unanimously approved an update to its investment policy to add bitcoin as a treasury-reserve asset. The move did not come completely out of the blue - a month earlier, GameStop CEO Ryan Cohen posted a picture of himself with Michael Saylor, the executive chair of Strategy.

Last month, GameStop announced that it plans to raise more debt - a move that could indicate another planned bitcoin purchase. The company subsequently upsized its private offering to $2.25 billion of convertible senior notes.

Underlining GameStop's ties to cryptocurrency, Cohen noted the price of bitcoin in a post on X Sunday evening.

Shares of Robinhood Markets Inc. (HOOD) and Coinbase Global Inc. (COIN) were also rising amid the bitcoin rally and were up 1.1% and 1.8%, respectively, in afternoon trading. The financial-services platform and the crypto-trading portal are seen as a beneficiaries of a crypto-friendly Trump administration.

-Tomi Kilgore -James Rogers

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