Founder of "Hold Coin" MicroStrategy (MSTR.US) revealed that he bought about $1 billion worth of Bitcoin.

MicroStrategy(MSTR.US) founder Michael Saylor said he has accumulated about $1bn of Bitcoin.

About four years ago, Saylor revealed in a tweet that he owned 17,732 Bitcoins, and the executive chairman of the publicly traded company with the most Bitcoins said he had not sold any digital currency when he was interviewed. Bitcoin was trading above $57,000 at the time of writing.

"I will continue to buy more Bitcoins," Saylor said, but he declined to say how many Bitcoins he personally owns, "I think it's a great asset class for individuals, families, institutions, companies or countries. I can't think of a better place to invest in."

As of the end of July, MicroStrategy held 226,500 Bitcoins. The company began buying the cryptocurrency in 2020 as a hedge against inflation.

The company reported its second consecutive quarterly loss after it wrote down the value of its approximately $1.3bn Bitcoins in the three months to June.

The company's share price has soared nearly 1,000% since it began buying Bitcoins. Bitcoin has grown more than 500% in the same period.