Software company turned serial crypto accumulator %Strategy (NASDAQ: $MSTR) has bought another $18 million U.S. worth of %Bitcoin (CRYPTO: $BTC).
To mark the five-year anniversary of its first BTC purchase on Aug. 11, 2020, Strategy has purchased 155 Bitcoin for $18 million U.S.
Strategy was one of the first publicly traded companies to adopt a crypto treasury strategy, essentially adding huge sums of Bitcoin to its balance sheet.
Prior to 2020, Strategy, formerly known as MicroStrategy, had seen its share price stagnate for two decades after the 2000 technology bubble burst, sending its share price down 95%.
Since August 2020, MSTR stock has compounded over 3,000%, while Bitcoin has returned nearly 1,000% to investors over the same time period.
To fund its ongoing Bitcoin buying, Strategy has raised $46 billion U.S. via equity and credit, which includes $8.2 billion U.S. in convertible debt and four perpetual preferred stock offerings.
The company run by Executive Chairman Michael Saylor now owns 628,946 Bitcoins valued at $76 billion U.S. That represents 3% of BTC’s fixed 21 million supply.
With an average cost of about $74,000 U.S. per Bitcoin, Strategy currently has an unrealized gain of $30 billion U.S., or 65%.
The company’s Bitcoin treasury strategy is now being copied by a number of other publicly traded firms, including %GameStop (NYSE: $GME) and %MaraHoldings (NASDAQ: $MARA).
Bitcoin is currently trading at just over $120,000 U.S., having gained 29% this year.
MSTR stock is up 32% year-to-date and trading at $395.13 U.S. per share.
