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MicroStrategy founder Michael Saylor speaks at the Bitcoin 2021 Conference in Miami on June 4, 2021.

CFOTO | Nurphoto | Getty Images

MicroStrategy shares jumped more than 8% on Friday after founder Michael Saylor said the company purchased another $1.1 billion worth of bitcoin.

The stock jumped 24% for the week and is now up 124% this year.

Saylor said in a post on social media platform X that MicroStrategy’s average purchase price in the four years it has been buying bitcoin is $38,585 per coin. Bitcoin is currently trading at close to $60,000.

MicroStrategy’s stash of 244,800 bitcoins is worth $14.6 billion.

Founded in 1989, MicroStategy has a business in enterprise software and cloud-based services, but its value is now almost entirely tied to its bitcoin ownership, effectively making the company a proxy for the world’s biggest cryptocurrency. It is the biggest corporate holder of the asset, according to Bitcoin Treasuries.

Read more about tech and crypto from CNBC Pro

In Saylor’s Friday post, he added that the “BTC yield,” a metric introduced by MicroStrategy, is 17% for the year. The number suggests that the company has created 17% more value for shareholders by selling stock to buy bitcoin.

“We’re basically giving people different types of bitcoin exposure,” Saylor told CNBC in an interview this week. “MicroStrategy’s mission is to securitize bitcoin and serve as the institutional bridge between traditional, mainstream investors and bitcoin.”

Even after this week’s rally, MicroStrategy shares are about 26% off their March high. The stock closed Friday at $141.47.

But MicroStrategy is far outperforming bitcoin, which is up 35% for the year. Saylor said owning MicroStrategy is a way to invest in bitcoin but with a variety of attributes, such as increased leverage or downside protection.

“A lot of people, they don’t want to own or they can’t own bitcoin,” Saylor said. Some would say, “Give me the volatility of the S&P and half of the performance of bitcoin, and I’d be totally happy,” he said.

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MicroStrategy's Michael Saylor predicts bitcoin could hit $13 million by 2045: CNBC Crypto World

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Uber launches true driverless robotaxi operations in the Middle East with WeRide [Video]

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Uber launches true driverless robotaxi operations in the Middle East with WeRide [Video]

Just over a year after Uber announced a strategic partnership in the Middle East with autonomous vehicle specialist WeRide, the companies have officially begun offering the public robotaxi rides without a driver or safety operator present on board.

Today’s latest milestone involving robotaxi operations in the Middle East dates back to September 2024, when Uber and WeRide initially announced a strategic partnership to bring autonomous rides to the UAE.

Three months later, the partner officially launched autonomous rides in Abu Dhabi, but with a safety operator present in the vehicle. At the time, Uber and WeRide said the supervised rides were “laying the groundwork” for a true driverless commercial operations planned for 2025.

That day has come.

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WeRide and Uber have confirmed that commercial robotaxi operations are officially underway in Abu Dhabi without any safety operators on board – a first for the Middle East.

Uber Middle East
Source: Uber

Uber rolls out Middle East robotaxi operations in Abu Dhabi

Uber shared details of its latest milestone late this evening or in the afternoon in the Middle East, depending on where you are.

Beginning today (Wednesday) customers in Abu Dhabi can select an UberX or Uber Comfort ride that enables them to be matched with a fully autonomous WeRide robotaxi without a driver inside. Riders in the Middle East can also increase their chances of hailing one of these driverless rides by select the “Autonomous” option in the Uber app.

In order to qualify, the prosepctive rider’s route must be part of WeRide’s operating territory in Abu Dhabi and a dedicated WeRide GXR Robotaxi vehicle (seen in the featured image above) must be available.

Similar to Uber’s partnership with Waymo in Austin and Atlanta, the global rideshare network will oversee fleet operations for WeRide vehicles, handling end-to end rider support. It has tapped Tawasul Transport to facilitate vehicle cleaning, maintenance, inspections, charging, and depot management. WeRide will remain responsible for vehicle testing.

As you may recall last spring, Uber and WeRide announced an expansion to their strategic partnership beyond the Middle East (although Dubai will be the city for its next robotaxi rollout). Over the next five years, Uber and WeRide intend to deploy true driverless public rides in 15 additional cities, some of which will be in Europe.

As promised, here’s some b-roll footage from Uber showing how riders in Abu Dhabi can order a WeRide robotaxi:

Source: Uber

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ChargePoint brings 40+ new fast-charging ports to metro Detroit

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ChargePoint brings 40+ new fast-charging ports to metro Detroit

Metro Detroit is about to get a big boost of fast EV chargers, with more than 40 new ChargePoint ports set to come online across multiple sites owned by the Dabaja Brothers Development Group.

The first ultra-fast charging site just opened in Canton, Michigan. It’s owned and operated by Dabaja Brothers, who plan to follow it with additional ChargePoint-equipped locations in Dearborn and Livonia.

“We started this project because we saw a gap in our community – there was almost nowhere to charge an EV in Canton, and a similar lack of charging across metro Detroit,” said Yousef Dabaja, owner/operator at Dabaja Brothers.

Each metro Detroit site will feature ChargePoint Express Plus fast charging stations, which can deliver up to 500 kW to a single port, can fast-charge two vehicles at the same time, and are compatible with all EVs. The stations feature a proprietary cooling system to deliver peak charging speeds for sustained periods, ensuring that charging speed remains consistent.

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The stations operate on the new ChargePoint Platform, which enables operators to monitor performance, adjust pricing, troubleshoot issues, and gain real-time insights to keep chargers running smoothly.

Rick Wilmer, CEO at ChargePoint, said, “This initiative will rapidly infill the ‘fast charging deserts’ across the Detroit area, allowing drivers to quickly recharge their vehicles when and where they need to.”

Read more: ChargePoint just gave its EV charging software a major AI upgrade


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Mercedes-Benz opens its first DC fast charging hub at Starbucks

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Mercedes-Benz opens its first DC fast charging hub at Starbucks

Mercedes-Benz High-Power Charging and Starbucks have officially opened their first DC fast charging hub together, off the I-5 in Red Bluff, California.

The 400 kW Mercedes-Benz chargers are capable of adding up to 300 miles in 10 minutes, depending on the EV, and every stall has both NACS and CCS cables – they’re fully open DC fast chargers.

Mercedes-Benz HPC North America, a joint venture between subsidiaries of Mercedes-Benz Group and renewable energy producer MN8 Energy, first announced in July 2024 that it would install DC fast chargers at Starbucks stores along Interstate 5, the main 1,400-mile north-south interstate highway on the US West Coast from Canada to Mexico. Ultimately, Mercedes plans to install fast chargers at 100 Starbucks stores across the US.

Mercedes-Benz HPC opened its first North American charging site at Mercedes-Benz USA’s headquarters in Sandy Springs, Georgia, in November 2023 as part of an initial $1 billion charging network investment. As of the end of 2024, Mercedes had deployed over 150 operational fast chargers in the US, but it hasn’t disclosed an official number of how many chargers are currently online.

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Andrew Cornelia, CEO of Mercedes-Benz HPC North America, is leaving the company at the end of the month to become global head of electrification & sustainability at Uber.

Read more: Mercedes-Benz is deploying 400 kW US-made EV fast chargers with CCS and NACS cables


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