Microstrategy Buys More Bitcoin, Now Holds 122,478 BTC — CEO Says Bitcoin Is Taking Gold"s Place
In less than two weeks after its previous bitcoin purchase, Microstrategy bought more bitcoins. The company has added 1,434 coins to its treasury, bringing the total holdings to 122,478 coins. At the time of writing, the company’s total bitcoin stash is worth about $6 billion. Microstrategy Purchases 1,434 More Bitcoins
The Nasdaq-listed company Microstrategy has purchased more bitcoin. CEO Michael Saylor announced Thursday: 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.
Before this latest purchase, Microstrategy bought 7,002 bitcoins at the end of November.
At the time of writing, the price of bitcoin is $48,736.87 based on data from Bitcoin.com Markets. This means Microstrategy’s bitcoins are now worth almost $6 billion.
Saylor believes that bitcoin will become a $100 trillion asset class, noting that the cryptocurrency is winning against gold. “Digital gold is going to replace gold this decade,” he said.
The Microstrategy CEO discussed the rising adoption of bitcoin globally on Yahoo Finance Live Thursday. Commenting on gold as an investment, he said that gold is threatened by bitcoin. “The best thing you could do is sell all $10 trillion of gold and buy bitcoin,” Saylor suggested, adding: “Gold is a dead rock. It’s the worst-performing asset, bar none, no debate. There is no hope for it.” He tweeted: Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place. Tags in this story Buy Bitcoin, buy btc, michael saylor, microstrategy, microstrategy bitcoin
What do you think about Microstrategy buying more bitcoin and Saylor’s comments? Let us know in the comments section below. Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction NEWS | 1 hour ago Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits NEWS | 11 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitpay Adds Shiba Inu Crypto as Petition to List SHIB on Robinhood Exceeds 545K Signers Next articleGensoKishi Online “Meta World” Is Set to Transform Blockchain Gaming With Innovative Metaverse Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItMajor Estonian Bank LHV Starts Offering Cryptocurrency Trading via Bitstamp
One of the largest banks in Estonia, LHV, is now offering cryptocurrency trading directly from its app through crypto exchange Bitstamp. The bank says it is the "first bank in the Baltics to start offering crypto trading." Large Estonian Bank ... read more.El Salvador Buys 100 More Bitcoins Amid Crypto Sell-Offs and New Covid-19 Variant Scare "We’ve All Decided Centralized Banking Is Rigged" — South Park Episode Features a Bitcoin-Only Future Despite Crypto Market Rout, Total Value Locked in Cross-Chain Bridges Jumps 9% in 30 Days Bitcoin"s Hashrate Dips, Mining Difficulty Expected to Decrease for First Time Since July