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Within two weeks of its previous bitcoin purchase, Microstrategy bought more bitcoin. The company 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 around $ 6 billion.
Microstrategy buys 1,434 more Bitcoins
The Nasdaq-listed company Microstrategy bought more bitcoins. CEO Michael Saylor announced Thursday:
Microstrategy purchased an additional 1,434 bitcoin for about $ 82.4 million in cash at an average price of about $ 57,477 per bitcoin. As of 12/9/21, we had acquired approximately 122,478 bitcoin for approximately $ 3.66 billion at an average price of approximately $ 29,861 per bitcoin.
Prior to this latest purchase, Microstrategy had 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 that Microstrategy’s bitcoin is now worth almost $ 6 billion.
Saylor believes bitcoin will grow into a $ 100,000 billion asset class, noting that cryptocurrency wins against gold. “Digital gold is going to replace gold this decade,” he said.
The CEO of Microstrategy discussed the growing adoption of bitcoin around the world on Yahoo Finance Live on Thursday. Commenting on gold as an investment, he said gold is threatened by bitcoin. “The best thing you can do is sell the $ 10 trillion gold and buy bitcoin,” Saylor suggested, adding, “Gold is a dead rock. underperforming, bar none, no debate. There is no hope for that. He tweeted:
Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place.
What do you think about Microstrategy buying more bitcoin and Saylor comments? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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