MicroStrategy Purchases 1,914 More Bitcoin On Thursday
Business intelligence software firm MicroStrategy has once again bought more Bitcoin (BTC) for its corporate treasury. With the latest purchase of 1,914 coins the company’s pushed its total holdings to 124,391 BTC. The company no holds about 1 out of every 170 Bitcoin that will ever exist.
MicroStrategy CEO and Bitcoin Bull, Michael Saylor, announced the purchase on Thursday via Twitter.
MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per #bitcoin. As of 12/29/21 we #hodl ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin. $MSTRhttps://t.co/tNxDwaT8VD
— Michael Saylor
(@saylor) December 30, 2021
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Saylor had recently said that he expects the price of the cryptocurrency to eventually reach $6 million and owns himself almost 18,000 BTC.
MicroStrategy’s timing is once again right, buying the dip. Trading has indeed been choppy for Bitcoin in December, after it experienced a brief weekend “flash crash” in the beginning of the month, losing 20%.
Bitcoin is currently seeing some upward movement and is trading hands at $48,030.77 according to CoinMarketCap. MicroStrategy’s holdings is now worth roughly $6 billion.
Saylor has often said that bitcoin will replace gold and that it is not going anywhere. He recently advised countries like Nigeria and Zimbabwe to have their national currencies backed by Bitcoin:
“You wanna fix your country like Nigeria, or Zimbabwe? The way you fix your country is you buy $2 billion, $3 billion worth of bitcoin and you issue currency backed by the bitcoin. That is the bitcoin standard. And every one of your citizens stops starving to death. And they live a decent life.”
This is @saylor‘s stacking of sats visualised.
In case anyone wants to something to aspire to for 2022. Best wishes for the New Year. pic.twitter.com/2QX6x3sPhN
— Willy Woo (@woonomic) December 31, 2021
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Source: igaming
