Microstrategy Buys More Bitcoin, Now Holds 122,478 BTC — CEO Says Bitcoin Is Taking Gold’s Place – News Bitcoin News

In lower than two weeks after its earlier bitcoin buy, Microstrategy purchased extra bitcoins. The corporate has added 1,434 cash to its treasury, bringing the entire holdings to 122,478 cash. On the time of writing, the corporate’s whole bitcoin stash is value about $6 billion.

Microstrategy Purchases 1,434 Extra Bitcoins

The Nasdaq-listed firm Microstrategy has bought extra bitcoin. CEO Michael Saylor introduced Thursday:

Microstrategy has bought a further 1,434 bitcoins for ~$82.4 million in money at a median worth of ~$57,477 per bitcoin. As of 12/9/21 we hodl ~122,478 bitcoins acquired for ~$3.66 billion at a median worth of ~$29,861 per bitcoin.

Earlier than this newest buy, Microstrategy purchased 7,002 bitcoins on the finish of November.

On the time of writing, the value of bitcoin is $48,736.87 primarily based on information from Markets. This implies Microstrategy’s bitcoins at the moment are value nearly $6 billion.

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Saylor believes that bitcoin will change into a $100 trillion asset class, noting that the cryptocurrency is profitable in opposition to gold. “Digital gold goes to switch gold this decade,” he stated.

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The Microstrategy CEO mentioned the rising adoption of bitcoin globally on Yahoo Finance Stay Thursday. Commenting on gold as an funding, he stated that gold is threatened by bitcoin. “The most effective factor you might do is promote all $10 trillion of gold and purchase bitcoin,” Saylor urged, including: “Gold is a lifeless rock. It’s the worst-performing asset, bar none, no debate. There isn’t a hope for it.” He tweeted:

As soon as upon a time, gold was essentially the most fascinating retailer of worth. Now bitcoin is taking its place.

What do you consider Microstrategy shopping for extra bitcoin and Saylor’s feedback? Tell us within the feedback part beneath.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss triggered or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

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