MicroStrategy Marks Four Years of Bitcoin Acquisition Spree

Business intelligence company MicroStrategy has marked its fourth year of acquiring the leading cryptocurrency, Bitcoin (BTC).

MicroStrategy co-founder Michael Saylor shared a chart showing that MSTR, the company’s stock, has outperformed 499 of the 500 stocks within the S&P 500. This metric shows the stocks’ performance since MicroStrategy adopted BTC in August 2020.

Four years ago today, MicroStrategy adopted #Bitcoin as its primary treasury reserve asset; since then $MSTR has outperformed 499 of 500 stocks in the S&P 500. pic.twitter.com/Db7GVeyc9a

— Michael Saylor⚡️ (@saylor) August 11, 2024

Four Years of BTC Accumulation

During an earnings call on July 28, 2020, a MicroStrategy executive revealed that the company would commit to a regular BTC acquisition. In mid-August 2020, under Saylor’s leadership as the then-CEO, MicroStrategy commenced its plan to acquire the digital asset.

The company stated that accumulating BTC would help in its fight against inflation. According to Saylor, BTC’s value will appreciate in the long term compared to fiat currency. The move was considered a significant and bold step towards Bitcoin adoption because MicroStrategy was the first publicly listed company in the United States to embrace the digital currency.

Since then, MicroStrategy has upheld its mission of acquiring as much Bitcoin as possible. The latest report showed that the public company had accrued 226,500 BTC (worth around $13.6 billion) following its most recent 169 BTC big buy. The company had even taken loans to purchase BTC. It is worth noting that despite its promise never to sell its BTC stash, MicroStrategy once sold portions of its BTC holdings to repay a loan.

When MicroStrategy began buying BTC, Saylor, widely known as a vocal Bitcoin proponent, revealed that the company’s “investment in Bitcoin is part of [its] new capital allocation strategy.” Over the years, Saylor has cemented his position among the top crypto figures driving Bitcoin’s adoption. Recently, a CoinTab report revealed that he ranks among the top six Bitcoin holdings with a portfolio worth over $1 billion.

More Companies Follow

Interestingly, MicroStrategy laid a path for more companies to follow. Various companies globally have followed a similar pattern of frequently accumulating BTC.

Today, investment companies are adopting the leading digital asset through the spot Bitcoin exchange-traded fund (ETF), an investment vehicle that enables investors to gain exposure to Bitcoin’s price movements.