Nasdaq-listed Microstrategy has bought more bitcoin for its corporate treasury. The latest purchase for 1,914 coins has raised the company’s total cryptocurrency holdings to 124,391 bitcoins. CEO Michael Saylor recently said that he expects the price of the cryptocurrency to eventually reach $6 million.
Microstrategy Has Purchased More Bitcoin
The pro-bitcoin Nasdaq-listed company Microstrategy has purchased 1,914 more BTC. With the latest purchase, the company now holds 124,391 bitcoins. Microstrategy CEO Michael Saylor announced Thursday via Twitter:
Microstrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per bitcoin.
“As of 12/29/21 we hodl ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin,” he detailed.
The price of BTC fell slightly Thursday. At the time of writing, it is hovering at about $47,398 after losing 1.4% over the last 24 hours. At the current price, Microstrategy’s BTC stash is worth about $5.9 billion.
The pro-bitcoin CEO of Microstrategy personally owns about 17,732 BTC. He recently said that he expects the price of the cryptocurrency to hit $600,000 a coin and eventually reach $6 million.
Saylor 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 that bitcoin is “unstoppable” and will “emerge as a $100 trillion asset class.” Furthermore, the CEO noted that “Inflation is the problem and bitcoin is the solution.”
What do you think about Microstrategy buying more bitcoin? Let us know in the comments section below.
Kevin Helms
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