Three years have passed since business intelligence juggernaut MicroStrategy first began to amass the leading digital asset #bitcoin (BTC).
#MichaelSaylor was the driving force behind the plan to turn Bitcoin into MicroStrategy's "main treasury reserve asset," instructing the company to purchase 21,454 BTC for $250 million, or about $11,653 per coin, on August 11th, 2020.
Since then, despite the ups and downs, MicroStrategy has maintained a continuous investment strategy in Bitcoin, making it the largest institutional Bitcoin holder. As of July 31st, the company owned 152,800 BTC, which it purchased for a total of $4.53 billion, or an average of $29,672 per coin.
At the time of writing, the price of one bitcoin is $29,391.
Saylor served as #MicroStrategy 's executive chairman after standing down from the CEO position a year ago. He was the company's CEO when it first acquired BTC.
The price of MicroStrategy's stock (MSTR) has increased by more than 210% since August 10th, 2020, the day before it announced its decision to buy Bitcoin for the first time. MSTR is currently trading at $384.31, according to MarketWatch.
Yet the journey hasn't been altogether trouble-free. MSTR has lost more than 70% of its value after reaching a three-year high of $1,315 on February 9th, 2021, when BTC was experiencing an ascending bull run.
Moreover, MicroStrategy worried in June 2022 that it might experience a margin call on a loan backed by bitcoin, albeit those worries were unfounded.
In a margin call, a trader or investor is compelled to contribute additional funds in order to keep a leveraged position open or from being liquidated.
