Strategy's Bitcoin bet turns 5 🎂

Five years after revealing its first Bitcoin buy, Michael Saylor's Strategy now holds $75 billion worth of the top cryptocurrency.

📝 What you need to know

Strategy’s latest Bitcoin buy was relatively unremarkable, with the firm disclosing $18 million worth of BTC purchases in the last week—its smallest acquisition in months, and a far cry from the nearly $2.5 billion addition revealed on July 29.

But Monday was still a big day for the Michael Saylor’s company, which pioneered the Bitcoin treasury strategy and revealed its first BTC purchase exactly five years ago. Saylor bet that BTC could help the once-sleepy software firm get better returns for shareholders as the COVID-19 pandemic rocked the world economy in 2020.

It’s fair to say he was right. Strategy now sits on about $75 billion worth of Bitcoin, and has seen its stock price skyrocket by 2,700% in the last five years. And the firm, formerly known as MicroStrategy, is also responsible for the crypto treasury boom that has exploded in recent months, expanding beyond Bitcoin to other top coins.

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