MicroStrategy Stock Pops as Bitcoin Hits Record. Its Crypto Holding Is Now Worth This. — Barrons.com

By George Glover and Callum Keown

Crypto-related stocks were racking up gains on Friday after Bitcoin surged to a record high overnight.

Shares in prolific Bitcoin buyer MicroStrategy, jumped 2.9% in early trading. The benchmark S&P 500 dropped 0.5% as investors weighed up more tariff news.

It's no surprise that the stocks were rallying after Bitcoin topped $118,000. MicroStrategy is one of the largest corporate holders of the token, although it didn't make any purchases last week — the first time it's gone a week without buying Bitcoin since the period between March 31 and April 6.

Its total holdings currently stand at 597,325 tokens purchased for roughly $70,982 each, or around $42.4 billion in total, according to a filing Monday.

The company's Bitcoin bet is looking pretty good right now — with the cryptocurrency trading above $118,000, its holdings are valued at around $70.6 billion.

Bitcoin mining stocks were rising, too. MARA Holdings gained 2%, Riot Platforms added 1.4%, and CleanSpark climbed 1.9%.

The surge in Bitcoin prices also stands to benefit shares in crypto exchange Coinbase Global, given that it could drive more users to its trading platform, although its shares were down 0.4% early Friday.

Write to George Glover at george.glover@dowjones.com

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