MicroStrategy (MSTR) stock rose 4% on October 2 after Bitcoin price climbed above $119,000 and the firm confirmed a new engineer had joined its team to work on BTCn and AI services.
The company’s continued bet on Bitcoin and software focus has kept investors watching its next move.
MicroStrategy Inc. (NASDAQ: MSTR) stock was trading at $338.41 as of October 2, up 4% from the previous session.
The stock traded in a range of $331.20 to $343.73 before ending the day higher. Pre‑market figures showed a further rally to $350.62.
The share movement came as the Bitcoin price traded around $119,000. This boosted confidence in the company, which holds the largest corporate Bitcoin treasury.
Notably, analysts noted that the final quarter of the year is often the strongest for Bitcoin.
Some suggested that if momentum continues, MSTR stock could approach $1,000 by year‑end. Others warned that market swings could still slow progress.
MicroStrategy has continued to expand its Bitcoin holdings. The company disclosed that it purchased 196 BTC in the past week for $22.1 million at an average of $113,048 each.
Its total now stands at 640,031 BTC, acquired for $47.35 billion at an average price of $73,983 per coin. At current prices, the holdings show more than $27 billion in unrealized gains.
In September 2024, the Treasury and IRS issued interim guidance on digital‑asset taxation.
The update confirmed that companies can exclude unrealized gains from digital assets when calculating certain tax obligations.
This provided clarity for MicroStrategy, as its large Bitcoin position would otherwise have placed it well above the $1 billion threshold for the corporate minimum tax.
New Engineer Joins MicroStrategy Bitcoin and AI Team
On October 2, an engineer posting online under the name LaDoger said he had joined MicroStrategy’s engineering team.
He stated that his focus would be on Bitcoin and AI services and thanked Michael Saylor and the company for the opportunity.
Samson Mow, the Chief Executive Officer of Jan3, responded by saying the post showed how AI had helped secure the job.
The announcement drew attention across the Bitcoin community. The hire adds to MicroStrategy’s efforts to build infrastructure that can serve a wider audience.
The move also highlighted the company’s interest in combining its software expertise with digital asset development.
By expanding its engineering team, MicroStrategy signals that it is not only holding Bitcoin but also developing tools that can support the broader ecosystem.
The company has built its reputation as both a treasury manager and a software provider, and the latest hire adds another layer to this role.
Strategy as a Bitcoin Software Developer
MicroStrategy’s shift toward Bitcoin began in 2020, when it adopted a policy of buying and holding the cryptocurrency.
Notably, since then, it has become the largest corporate Bitcoin holder in the world.
This strategy has shaped the company’s identity as more than a software firm. The company also continues to adjust its financial policies.
In September, MicroStrategy (MSTR) raised the annual dividend rate on its Variable Rate Series A Perpetual Stretch Preferred Stock from 10 % to 10.25 %.
The increase was modest but reflected a steady return to shareholders alongside its Bitcoin focus.
While its core remains enterprise software and analytics, MicroStrategy has been working on ways to bring Bitcoin and AI into its development plans.
The new engineering hire and continued digital asset purchases suggest a future where the firm balances both sides: holding Bitcoin as a treasury reserve and building tools that can support its use.