Microstrategy, listed on Nasdaq, bought more bitcoin for its corporate treasury. The latest purchase of 1,914 coins brought the company’s total cryptocurrency holdings to 124,391 bitcoins. CEO Michael Saylor recently said he expects the price of the cryptocurrency to eventually hit $ 6 million.
Microstrategy bought more Bitcoin
The pro-bitcoin company listed on Nasdaq Microstrategy bought an additional 1,914 BTC. With the latest purchase, the company now owns 124,391 bitcoins. Microstrategy CEO Michael Saylor announced Thursday via Twitter:
Microstrategy purchased an additional 1,914 bitcoins for ~ $ 94.2 million in cash at an average price of around $ 49,229 per bitcoin.
“As of 12/29/21, we have obtained ~ 124,391 bitcoins acquired for ~ $ 3.75 billion at an average price of around $ 30,159 per bitcoin,” he detailed.
The price of BTC fell slightly on Thursday. As of this writing, it is hovering around $ 47,398 after losing 1.4% in the past 24 hours. At the current price, Microstrategy’s BTC reserve is worth around $ 5.9 billion.
Microstrategy’s pro-bitcoin CEO personally owns around 17,732 BTC. He recently said that he expects the price of the cryptocurrency to hit $ 600,000 a coin and eventually hit $ 6 million.
Saylor has repeatedly said that bitcoin will replace gold. “Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place, ”he tweeted earlier this month. In November, he said bitcoin was “unstoppable” and “would emerge as a $ 100,000 billion asset class.” Further, the CEO noted that “inflation is the problem and bitcoin is the solution”.
What do you think about the fact that Microstrategy is buying more bitcoin? Let us know in the comments section below.
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