MicroStrategy shares have appreciated more than 170% since the first purchase in July 2020.

MicroStrategy’s CEO announced through Twitter that he purchased this Friday (04) 2,574 bitcoins. The company now has 40,824 units of digital currency.

„MicroStrategy purchased approximately 2,574 bitcoins for $50.0 million according to the Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin,“ Saylor wrote in the tweet. „We now have approximately 40,824 bitcoins.

MicroStrategy has purchased approximately 2,574 Bitcoin Lifestyle for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now hold approximately 40,824 bitcoins.

The first time the company bought bitcoin the value of each currency was $ 11,635. In all, the investment exceeds $ 766 million.

MicroStrategy shares have appreciated more than 170% since the first purchase in July 2020.

Coinbase intermediated the purchases. Through a post, the largest cryptomorphic broker in the United States revealed that it played a key role in the process.

The broker said it was MicroStrategy’s main partner, helping the company acquire $425 million in bitcoin.

MicroStrategy’s investment in Bitcoin was a widely discussed issue in the community this year, with company CEO Michael Saylor suddenly becoming one of the most influential Bitcoin advocates in the world.

Coinbase revealed that MicroStrategy’s first $250 million purchase took a total of five days to complete. Overall, the deal was executed through almost 200,000 sales orders, with an average of 0.3 BTC per transaction.

In other words, for MicroStrategy to get its hands on the 40,000 bitcoins, at least 200,000 people had to sell a piece.

With the investment, the company made Bitcoin its main reserve value asset to protect itself against inflationary risk.

After investing in digital currency, MicroStrategy’s shares jumped 26% and became the company’s biggest stock gain. The last time MicroStrategy shares were so high, above $343 each, was 20 years ago, in September 2000.

The high is explained by the price of Bitcoin, which reached a new record above $ 19,800 after 4 of the first purchase.