Saylor’s Strategy started buying Bitcoin 5 years ago. It's now up 2,600%
Main Idea
MicroStrategy, now known as Strategy, has seen its share price surge 2,600% since it began buying Bitcoin five years ago, reviving the company from a prolonged slump.
Key Points
1. Strategy first purchased Bitcoin on Aug. 11, 2020, spending $250 million to acquire 21,454 BTC, which marked the start of its Bitcoin investment strategy.
2. The company has since invested a total of $46 billion to accumulate 628,791 BTC, significantly boosting its share price from under $15 to over $395 in five years.
3. Strategy's stock had previously suffered from a 20-year lull and a dot-com bubble accounting scandal, but Bitcoin investments revived its market performance.
4. Michael Saylor, Strategy's founder, announced plans to raise $84 billion over the next two years to continue buying Bitcoin, doubling a previous $21 billion target.
5. Strategy currently holds an unrealized profit of around $28.8 billion on its Bitcoin investments.
Description
MicroStrategy, now known as Strategy, first purchased Bitcoin exactly five years ago on Aug. 11, 2020, a move that helped revive its share price after a two-decade lull.
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