MicroStrategy’s co-founder and executive chairman, Michael Saylor, who served as the company’s former CEO for over 30 years, continues to remain bullish on bitcoin three years after his publicly-traded business intelligence company decided to make its first BTC purchase.

Saylor has also made big price predictions for the asset, believing its value could exceed $1 million per coin.

MicroStrategy Holds Nearly 153,000 BTC 3 Years Later

MicroStrategy made history and headlines on August 11, 2020, after becoming the first publicly-traded company to purchase bitcoin. The firm initially hinted in July 2020 about its plans to invest in assets such as bitcoin or gold rather than holding cash, as a way to escape inflation, with the company later deciding to buy BTC worth $250 million and adopting it as its primary treasury reserve asset.

According to Saylor at the time, who was MicroStrategy’s CEO, the decision to go for bitcoin was made because the cryptocurrency served as a better hedge against inflation and had a higher return on investment compared to other assets.

That first purchase marked the beginning of several investments amid the crypto’s volatile price movements, causing the company to hold a large BTC stash. In June 2023, Saylor announced that the business intelligence giant bought 12,333 BTC for $347 million, making it one of the company’s largest purchases in a single quarter since Q2 2021.

As of July 31, 2023, MicroStrategy holds 152,800 BTC, which the company said was purchased for $4.53 billion at an average purchase price of $29,672 per bitcoin. The business intelligence software firm is the largest corporate holder of bitcoin.

Meanwhile, in a December 2022 SEC filing, MicroStrategy revealed that it sold 704 BTC to generate tax benefits. The sale was a first for the