Strategy's Bitcoin purchase marks its fifth anniversary, with its stock price increasing by approximately 2,600%.

PANews reported on August 11th that Strategy celebrated its fifth anniversary of its first Bitcoin purchase, a move that helped its stock price surge nearly 2,600% since 2020, breaking out of a 20-year slump. MicroStrategy Inc. (now known as Strategy) made its first Bitcoin purchase on August 11, 2020, spending $250 million to acquire 21,454 Bitcoins. Founder Michael Saylor called this a "new capital allocation strategy."

The company has spent $46 billion to acquire 628,791 bitcoins to date, making it the largest holder of bitcoins of any public or private company and inspiring countless others to follow suit. These purchases have driven MicroStrategy's (MSTR) stock price up more than 2,595% over the past five years, closing at over $395 last Friday, compared to less than $15 five years ago.