Strategy, formerly MicroStrategy, recently purchased 6,220 bitcoins worth $739.8 million, bringing their total to 607,770 coins valued at $72 billion. Shares have surged 3,500% since they began buying bitcoin in 2020. This makes Strategy the largest corporate owner of bitcoin, with a 1,100% increase in bitcoin price.

The company funded their bitcoin purchases through a mix of common and preferred shares, as well as debt. Capitol Hill recently passed pro-crypto bills, further legitimizing digital currencies. CEO Michael Saylor hinted at buying more bitcoin, showing confidence in the future of cryptocurrency and Strategy’s strategy.

Strategy’s bold move to invest heavily in bitcoin has paid off, with their stockpile now accounting for roughly 3% of all bitcoin in circulation. This investment strategy has seen their shares soar while the S&P 500 has only risen by 120% during the same period. The company’s confidence in bitcoin’s potential continues to grow.

Read more at Yahoo Finance: MicroStrategy Bolsters Its Bitcoin War Chest