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Strategy Adds $18M in Bitcoin on Fifth Anniversary of First Purchase as Price Jumps 5%

Michael Saylor’s bitcoin accumulation strategy reached its
five-year mark on Monday, with Strategy announcing a fresh purchase of 155 BTC
for $18 million. The buy brings the company’s total holdings to 628,946 BTC,
valued at nearly $76 billion, or about 3% of bitcoin’s fixed supply.

Five-Year Gains Outpace Bitcoin

Strategy adopted Bitcoin as its primary treasury asset in
August 2020. Since then, its stock has gained more than 3,000%, averaging 100%
annual returns, compared to bitcoin’s 1,000% increase. The company funded its
purchases through $46 billion in equity and credit, including $8.2 billion in
convertible debt and four perpetual preferred stock offerings.

MSTR is now among the most actively traded U.S. equities. It
records $4.4 billion in daily share volume, just behind Google’s $4.9 billion,
and has $90 billion in open interest in options, second only to Google’s $99
billion. The company’s market cap stands at $112 billion.

Corporate Bitcoin Holdings Expand

Saylor’s approach has influenced other companies to adopt
bitcoin in their treasuries. Publicly listed firms now hold a combined 964,314
BTC, much of which is financed through capital raises following Strategy’s model.

At the time of publication, Bitcoin was changing hands above
$120,000, representing a 1% increase in the past day and a 4.55% jump in the
past week, according to CoinMarketCap data. Meanwhile, the second-largest cryptocurrency, Ethereum, is up 17% in the past week.

This article was written by Jared Kirui at www.financemagnates.com.

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