Microstrategy bought 7,002 additional bitcoins to increase its cryptocurrency stock to 121.044 coins. CEO Michael Saylor says, “Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.”
Microstrategy has now 121 044 Bitcoins in its Treasury
Microstrategy, a Nasdaq listed company has bought 7,002 bitcoins more. Michael Saylor, the CEO of Microstrategy, posted Monday:
Microstrategy bought an additional 7,002 Bitcoins in exchange for $414.4 Million cash. The average bitcoin price is $59.187. At an average bitcoin price of $29,534/bitcoin, we had 121,044 bitcoins in our possession as of November 29, 21.
Based on data provided by Bitcoin.com Markets, bitcoin’s current price is $57,095.58 at the time of this writing. This means Microstrategy’s bitcoins are now worth more than $6.9 billion.
Saylor recently discussed the possibility of bitcoin being a $100 trillion asset. He noted that bitcoin is winning against gold, asserting that “digital gold is going to replace gold this decade.” The bitcoin market cap is currently around $1.11 trillion.
Microstrategy executives stated they aren’t at all concerned about regulation in Washington. They noted that the regulations will impact crypto-exchanges, security tokens, and decentralized financing (defi), exchanges, and any other applications of cryptocurrency. In his opinion, “bitcoin is unstoppable as digital property.”
On Friday, Saylor tweeted, “Bitcoin offers better inflation protection than gold and is growing faster than big tech.” He believes that BTC “is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.” He emphasized, “In time, we will come to understand that it is concentrated energy in digital form and critical to the progression of our civilization.”
Microstrategy CEO, commenting on allegations that the Indian government might be trying to ban cryptocurrency such as Bitcoin and Ethereum, stated:
Bitcoin can be described as digital property. In every country that permits citizens to possess private property, it will become a stock of value.
In contrast, Saylor explained that “A stablecoin is digital currency for use as a medium of exchange and will be issued by chartered banks.”
What do you think about Microstrategy’s bitcoin purchase? Please leave your comments below.
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