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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 firm has added 1,434 coins to its treasury, bringing the whole holdings to 122,478 coins. At the time of writing, the corporate’s complete bitcoin stash is value about $6 billion.

Microstrategy Purchases 1,434 More Bitcoins

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

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

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

At the time of writing, the price of bitcoin is $48,736.87 primarily based on knowledge from Markets. This means Microstrategy’s bitcoins at the moment are value virtually $6 billion.

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

The Microstrategy CEO mentioned the rising adoption of bitcoin globally on Yahoo Finance Live Thursday. Commenting on gold as an funding, he stated that gold is threatened by bitcoin. “The best thing you could do is sell all $10 trillion of gold and buy bitcoin,” Saylor advised, including: “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 probably 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? Let us know within the feedback part beneath.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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