Strategy celebrated its fifth anniversary of buying BTC by adding $18 million worth of Bitcoin to its already substantial portfolio. The firm, led by Michael Saylor, acquired 155 BTC, bringing its total holdings to 628,946 BTC, according to a recent SEC filing.
A Five-Year Journey
Strategy, formerly known as MicroStrategy, embarked on its Bitcoin journey on August 11, 2020, with an initial purchase of 21,454 BTC for $250 million. Since then, the company has spent approximately $46.1 billion acquiring Bitcoin, with an average purchase price of $73,288 per coin.
Bitcoin Holding Grows
The latest acquisition was made at an average price of $116,401 per Bitcoin. This move coincides with Bitcoin’s price nearing its all-time highs, starting the week at $114,000 and reaching around $122,000 by Sunday, as per CoinGecko data.
A Rollercoaster Ride
Strategy’s decision to embrace Bitcoin as a treasury asset has paid off handsomely. The price of Bitcoin has surged by 960% since the company’s first purchase, rising from around $11,400 to about $120,000 today. This strategic move has also propelled Strategy’s share price by over 2,595% in five years.
From Scandal to Success
Founded by Saylor in 1989, Strategy was once embroiled in an accounting scandal that saw its stock plummet by over 60% in a single day. However, the adoption of Bitcoin has revived its fortunes, with shares now trading at over $395, a significant leap from the under $15 mark half a decade ago.
What Lies Ahead?
Saylor has ambitious plans to raise $84 billion over the next two years to continue investing in Bitcoin. Despite the modest size of the latest purchase, Strategy remains committed to its Bitcoin strategy. As Saylor quipped on social media, “If you don’t stop buying Bitcoin, you won’t stop making money.”
*Financial advice disclaimer: This article is for informational purposes only and does not constitute financial advice.*
