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Michael Saylor’s Bitcoin treasury firm Strategy is set to make its 100th Bitcoin purchase, according to hints from its chairman, nearly six years after embarking on its Bitcoin-buying journey in 2020. In an X post on Saturday, Saylor shared a screenshot of a chart from StrategyTracker, a move he frequently makes to indicate anas Bitcoin traded below its average purchase price, with the asset sitting at around $64,700 at the time of writing.
Saylor, a former Bitcoin skeptic, was the driving force behind the firm’s first Bitcoin purchase, totaling $250 million in August 2020.Strategy dived into the Bitcoin space to use BTC as an inflation hedge and store of value to protect the firm’s treasury. The move was also part of a push to maximize and maintain shareholder value over time. In the nearly six years since its first purchase, Strategy has become the world’s largest public holder of Bitcoin. It has inspired a long list of firms to adopt similar strategies and to pivot into digital asset treasury firms.from Yahoo Finance, Strategy’s share price has increased by around 950% since its first purchase in 2020, rising from about $12.44 to $131.05 at the time of writing.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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