Microstrategy, through its third quarter earnings report 2020, revealed that the firm had purchased a crypto asset of 38,250 bitcoins (BTC) at a price of $ 11,111 per coin, bringing the total value to $ 425 million.
Currently the BTC price reaches $ 13,495 and indirectly the firm's bitcoin holdings are worth more than $ 515 million.
Previously, Microstrategy for the first time bought 21,454 bitcoins last August which at that time brought a total value of $ 250 million.
The company's share price also rose nearly 38% from $ 117.81, when they announced their bitcoin capital allocation strategy in the second quarter report last July to $ 162.15.
At the same time, Microstrategy CEO Michael Saylor owns bitcoin assets worth $ 238.46 million.
The individual was previously not a fan of crypto assets, equating Bitcoin investing with online gambling.
However, the response has changed since the purchase of bitcoin. Saylor believes in cryptocurrencies as the best value storage, considering that digital assets are much better than gold or technology stocks.
Saylor also stated that Microstrategy plans to keep BTC for another 100 years.
