MicroStrategy's shares surge over 23% as bitcoin portfolio exceeds $13 billion

MicroStrategy, the business intelligence firm best known for commitment to stockpiling bitcoin, saw its shares leap by 24% on Monday as the price of the world's most popular cryptocurrency by market cap passed $67,000.

At market close, MicroStrategy's shares traded at $1,334.01, according to Yahoo Finance, though it immediately tumbled by roughly $100 from that amount just a minute after the bell. The company's massive portfolio of bitcoin is currently worth more than $13 billion. As of 4:05 p.m. ET, bitcoin was up 7.5% in the past 24 hours and trading at a price of $67,624, according to The Block Price Page .

Helmed by Michael Saylor, MicroStrategy first began buying bitcoin in earnest in 2020. Since then, with a market cap north of $22 billion, the company's value has experienced a more than tenfold increase.

MicroStrategy's total bitcoin holdings reached  193,000 on Feb. 26, after it bought an additional 3,000, worth $155 million at the time. The previous month, the firm purchased 850 BTC for $37.2 million.