$ 84,089.3
$ 1,924.26
$ 0.7381
$ 592.39
$ 133.53
Dec 10, 2021
Microstrategy Buys More Bitcoin, Now Holds 122,478 BTC — CEO Says Bitcoin Is Taking Gold's Place
Microstrategy bought additional bitcoins less than two weeks after its prior acquisition. The corporation has added 1,434 coins to its treasury, raising the total number of coins in its possession to 122,478. The company's entire bitcoin holdings are valued at around $6 billion at the time of writing.
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.
Saylor believes that bitcoin will grow to be a $100 trillion asset class, noting that it is outperforming gold. "This decade, digital gold will supplant gold," he said.
On Yahoo Finance Live on Thursday, the Microstrategy CEO explored the global adoption of bitcoin.
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”
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.