• Shares in MicroStrategy, the largest corporate holder of Bitcoin, are jumping Monday in premarket trading, as the cryptocurrency trades near the $100,000 mark for the first time.

• MicroStrategy ramped up acquisitions of the token this year—especially following Donald Trump’s November 5 election victory—as investors bet on a crypto-friendly administration and Congress.

• As of Nov. 17, MicroStrategy held 331,200 bitcoin.

Shares in MicroStrategy (MSTR), the largest corporate holder of Bitcoin (BTCUSD), are jumping Monday in premarket trading, as the cryptocurrency trades near the $100,000 mark for the first time.

After rising to around $99,800 on Friday afternoon, Bitcoin's price eased slightly in weekend trading and was trading at just above $98,000 Monday morning.

MicroStrategy, once primarily a business software provider, has been buying Bitcoin since August 2020. It ramped up acquisitions of the token this year—especially following Donald Trump’s November 5 election victory—as investors bet on a crypto-friendly administration and Congress.

As of Nov. 17, MicroStrategy held 331,200 bitcoin, which the company said were acquired at an aggregate purchase price of about $16.5 billion and an average purchase price of around $49,874 per token, inclusive of fees.

That would be worth at least $32 billion at current prices.

MicroStrategy has been tapping the capital markets with share sales and convertible bond deals to fund its purchases of Bitcoin.

MicroStrategy shares are trading up 5.4% in premarket trading, and have gained more than 500% this year. They have risen almost 90% since Nov. 5, when Trump won the U.S. election.