MicroStrategy – the business intelligence company co-founded by Michael Saylor – has purchased bitcoin each quarter since August 2020.

The company is the largest corporate holder of the primary cryptocurrency, owning 140,000 BTC. It accumulated its stash at an average price of $29,803, meaning it currently sits on a minor unrealized loss.

Adding More BTC During Every Quarter

Despite the volatile nature of bitcoin and the 2022 bear market that disrupted the cryptocurrency industry, MicroStrategy seems determined to only keep strengthening its BTC position.

The firm jumped on the bandwagon in August 2020 by purchasing over 21,000 BTC and embracing a strategy focused on the leading digital asset. 

“Our investment in bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders.

This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” MicroStrategy’s Executive Chairman – Michael Saylor – said at the time.

The company stayed loyal to Saylor’s words and continued increasing its possessions in the following years. In fact, it purchased certain amounts of BTC during each quarter up until now. The firm’s most substantial purchases came at the start of its strategy when it accumulated over 38,000 BTC in Q3 2020 and then took that amount to more than 70,000 BTC by the end of the year.