MicroStrategy Buys More Bitcoin and Holds Billion Worth
Only two weeks after its last Bitcoin (BTC) purchase, software intelligence firm MicroStrategy bought more Bitcoins. As announced by its CEO Michael Saylor on Thursday, the firm added 1,434 coins to the books, with the total holdings now growing to 122,478 BTC.
MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin. As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin. $MSTRhttps://t.co/Xke8QhoYpy
— Michael Saylor
(@saylor) December 9, 2021
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MicroStrategy’s previous purchase was at the end of November when it upped its total holdings with 7,002 BTC. At the time of writing, total book value for the top cryptocurrency is around $6 billion.
Saylor’s confidence in Bitcoin is high as he believes that bitcoin will become a $100 trillion asset class. “Digital gold is going to replace gold this decade,” he stressed.
On the same day that Saylor revealed MicroStrategy’s purchase, the CEO appeared on Yahoo Finance Live to discuss the rising adoption of Bitcoin across the world. According to the world’s most famous ‘hodler’, gold is threatened by Bitcoin. He noted:
“The best thing you could do is sell all $10 trillion of gold and buy bitcoin.
Gold is a dead rock. It’s the worst-performing asset, bar none, no debate. There is no hope for it.”
Once upon a time, #Gold was the most desirable store of value. Now #Bitcoin is taking its place. https://t.co/oEAdkPr0Iz
— Michael Saylor
(@saylor) December 9, 2021
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Source: igaming
