The company which is doing business as Strategy, said it now owns more than 600,000 bitcoin, valued at more than $70 billion at current prices. The disclosed purchases come as bitcoin rose to trade above $121,

MicroStrategy has once again doubled down on its Bitcoin strategy, revealing it acquired 4,225 BTC between July 7 and July 13 at an average price of $111,827 per coin for a staggering $472.5 million.

Famously anti-bitcoin, indexing asset management giant Vanguard now owns more than 20 million shares of Strategy and is likely the company's largest institutional holder, according to Bloomberg. The asset manager’s stake in Strategy comes from passive index fund exposure,