PANews August 11 news, according to Cointelegraph, Strategy celebrates the fifth anniversary of its first purchase of Bitcoin, a move that has helped its stock price soar nearly 2600% since 2020, lifting it out of a 20-year slump. MicroStrategy Inc. (now renamed Strategy) made its first Bitcoin purchase on August 11, 2020, spending $250 million to acquire 21,454 Bitcoins, which founder Michael Saylor referred to as a 'new capital allocation strategy.'
The company has spent a total of $46 billion to acquire 628,791 Bitcoins, becoming the company with the largest Bitcoin holdings among all public and private companies, inspiring countless others to follow its lead in purchasing Bitcoin. These purchases have driven the stock price of MicroStrategy (MSTR) up over 2,595% in the past five years, closing last Friday at over $395, while five years ago its stock price was less than $15.
