MicroCloud Hologram Stock Up on $200 Million of Crypto Purchases

By Dean Seal

Shares of MicroCloud Hologram gained after the company said it has bought up to $200 million in Bitcoin and cryptocurrency-related securities.

The stock rose 24% at $7.46 in the morning session on Friday. Shares have plunged 98% in the past year.

The holographic technology company said before the opening bell that the Bitcoin and derivatives it purchased will be incorporated into its capital reserve strategy.

MicroCloud has cumulative investment income of $34 million and $394 million in cash reserves, the company said.

Those reserves will be allocated toward derivatives and technology development in fields including Bitcoin-related blockchain, quantum computing and quantum holography, according to MicroCloud.

Write to Dean Seal at dean.seal@wsj.com