Remember when Tysons, Virginia-based MicroStrategy began purchasing a bunch of bitcoins last year? Well, it looks like the expensive move is paying off for the publicly traded business intelligence company, since its stock price rose by 29% yesterday.

The stock jump came after electric vehicle and clean energy company Tesla purchased $1.5 billion in bitcoins of its own, which made the price of the cryptocurrency rise tremendously. At close yesterday, MicroStrategy’s stock was priced at $1,041 per share and it’s still on the rise today, currently valued at $1,201 per share.

MicroStrategy first purchased 21,454 bitcoins for $250 million last August, and the company has since purchased way more and currently owns more than $3 billion worth of bitcoins. In an interview with CNBC, MicroStrategy CEO Michael Saylor declined to confirm or deny if he has been in talks with Tesla CEO Elon Musk, but he did tweet out a thank you to him.

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