Five years ago today, on August 11, 2020, MicroStrategy which now operates as Strategy, made its first-ever Bitcoin purchase. The bold move not only transformed the company’s financial trajectory but also revived its share price after a two-decade slump.
Today marks 5 years since we adopted a $BTC strategy. pic.twitter.com/wZa1NJGeS1
— Strategy (@Strategy) August 10, 2025
The initial $250 million purchase secured 21,454 BTC as part of what founder Michael Saylor referred to as a “new capital allocation strategy.” Since then, Strategy has spent roughly $46 billion amassing a staggering 628,791 BTC — the largest Bitcoin holdings among any public or private company worldwide.
This aggressive accumulation has sent MSTR shares soaring by nearly 2,600% over the past five years, closing at over $395 on Friday compared with under $15 before the Bitcoin pivot.
From Dot-Com Darling to Bitcoin Powerhouse
Founded in 1989, Strategy built its name as a business analytics software and consulting firm. The company thrived in the late 1990s dot-com boom, with shares peaking at $313 in March 2000 — until an accounting scandal rattled investor confidence.
In March 2000, Strategy admitted to overstating revenues for 1998 and 1999. The Securities and Exchange Commission (SEC) later charged the company and executives, including Michael Saylor; the parties settled without admitting wrongdoing and paid fines. The announcement sent shares tumbling over 60% in a single day and ushered in decades of stagnation — at times, the stock traded below $0.50.
Bitcoin Sparks Historic Turnaround
The pivot to Bitcoin in 2020 changed the story. Within a year of its first BTC purchase, Strategy’s stock quadrupled, surpassing $70 for the first time in 20 years as Bitcoin surged from roughly $11,500 to $50,000.
On November 11, 2024, MSTR closed at $340, finally surpassing its March 2000 high — coinciding with Bitcoin setting a new all-time high above $80,000. Today, Strategy’s share price closely tracks Bitcoin’s price moves given the company’s vast holdings. Data from StrategyTracker estimates the company’s unrealized Bitcoin profit at about $28.8 billion.
What’s Next? $84B More Bitcoin Buys
In May, Saylor announced plans for Strategy to raise $84 billion over the next two years, doubling a previous $21 billion target. The capital will be raised via convertible debt, share offerings and other financing vehicles to fund additional Bitcoin purchases.
Most recently, the company purchased 21,021 BTC on July 29, adding to the treasury. On X (formerly Twitter), Saylor posted a chart of Strategy’s prior purchases with the caption: “If you don’t stop buying Bitcoin, you won’t stop making Money.” Historically, such posts have often preceded further acquisitions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
