According to online reports, according to Cointelegraph, MicroStrategy (now renamed Strategy) purchased Bitcoin for the first time on August 11, 2020, spending US$250 million to purchase 21,454 bitcoins. Founder Michael Saylor called this its "new capital allocation strategy." Since then, the company has spent a total of US$46 billion to purchase 628,791 bitcoins, becoming the company with the largest number of bitcoins among all listed and unlisted companies, and inspiring countless companies to follow its coin buying strategy. Those purchases have pushed MicroStrategy (ticker: MSTR) shares up more than 2595% in the past five years, closing above $395 last Friday, compared with less than $15 five years ago.