 
 
Bitcoin treasury company Strategy (previously known as MicroStrategy) announced Monday that it bought an additional 155 Bitcoin for approximately $18 million at an average price of $116,401 per coin, according to an 8-K filing with the U.S. Securities and Exchange Commission (SEC).
Exactly five years on after going all-in on Bitcoin, the Nasdaq-traded company now holds 628,946 BTC. That’s over $75 billion in the alpha crypto based on current prices and is equivalent to roughly 3% of Bitcoin’s fixed 21 million supply.
While last week’s acquisition marks one of the smallest purchases on record, its notable as it comes while Strategy celebrates five years of BTC adoption as a treasury asset.
Strategy Adopted Bitcoin Standard On August 11, 2020
Strategy’s has spent a total of $46 billion buying its overall Bitcoin holdings at an average price of $73,288.
Strategy started off as a AI and software company, selling data-analyzing products to major firms, but in 2020, it started buying Bitcoin to generate better returns for shareholders.
 
The company formally adopted Bitcoin as its primary reserve asset on August 11, 2020, kicking off with the purchase of 21,454 BTC worth $250 million. The Bitcoin price has rocketed over 950% since Strategy’s first BTC buy, from roughly $11,400 to around $119,483 at press time, raking in gargantuan returns on the firm’s investment.
Despite the high prices, Strategy has continued aggressively accumulating the top coin and has inspired other publicly traded companies, including Metaplanet, Semler Scientific, GameStop, and Trump Media, to copy its Bitcoin buys.
“If you don’t stop buying Bitcoin, you won’t stop making money,” Strategy co-founder and Executive Chairman Saylor asserted in a Sunday post on X.
The company issues leveraged debt to fund its purchases. Strategy looks to raise another $4.2 billion worth of shares through one of its preferred stock offerings to scoop up more Bitcoin, part of its long-term goal to purchase $84 billion worth of the crypto under its scaled up“42/42” plan.
Saylor also remains confident in Bitcoin’s future price trajectory. In June, the staunch Bitcoin advocate doubled down on his price forecast, forecasting that BTC is headed to $21 million in the next 21 years.
Source: https://zycrypto.com/strategy-stacks-another-155-btc-for-18-million-on-fifth-anniversary-of-its-groundbreaking-bitcoin-gamble/