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

Microstrategy acquired 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 over $6 billion at the time of writing.

Microstrategy buys another 1,434 bitcoins

Microstrategy, a Nasdaq-listed business, has acquired additional bitcoin. On Thursday, CEO Michael Saylor made the following announcement:

At an average price of $57,477 per bitcoin, Microstrategy has acquired an additional 1,434 bitcoins for $82.4 million in cash. We have 122,478 bitcoins in our possession as of December 9th, valued at $3.66 billion at an average price of $29,861 per bitcoin.

Microstrategy had already purchased 7,002 bitcoins at the end of November.

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According to Markets, the price of bitcoin is $48,736.87 at the time of writing. Microstrategy’s bitcoins are now valued at around $6 billion.

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 predicted.

On Yahoo Finance Live on Thursday, the Microstrategy CEO explored the global adoption of bitcoin. When it comes to gold as an investment, he believes bitcoin is a danger. “The greatest thing you could do is sell all of your gold and purchase bitcoin,” Saylor said, adding, “Gold is a dead rock.” It is, without a doubt, the worst-performing asset. There’s no way to save it.” He wrote on Twitter:

“Gold used to be the most sought-after store of value. Bitcoin has now taken its position.”