Microstrategy Buys More Bitcoin, Now Holding 124,391 BTC – Featured Bitcoin News

Microstrategy, a Nasdaq listed company has purchased more bitcoins for its corporate Treasury. The latest purchase for 1,914 coins has raised the company’s total cryptocurrency holdings to 124,391 bitcoins. Michael Saylor, the CEO, stated recently that he anticipates the cryptocurrency’s price to rise to $6 million.

A Lot More Bitcoins Have Been Purchased by Microstrategy

Microstrategy, a Nasdaq listed pro-bitcoin company has bought 1,914 additional bitcoins. The company now has 124,391 Bitcoins. Microstrategy CEO Michael Saylor made the announcement via Twitter on Thursday:

Microstrategy bought an additional 1,914 Bitcoins, at an average bitcoin price of $492,229 for $94.2 Million in Cash.

“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.

BTC prices fell slightly on Thursday. After losing 1.4% within the last 24hrs, the price of Bitcoin is now hovering around $47.398 at the time this article was written. At the current price, Microstrategy’s BTC stash is worth about $5.9 billion.

Microstrategy CEO, a pro-bitcoin advocate, owns around 17,732 BTC. According to him, the value of cryptocurrency will soon reach $6,000,000 and $600,000.

Saylor repeated his belief that bitcoin would 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.”

How do you feel about Microstrategy purchasing more Bitcoin? Comment below to let us know your thoughts.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.

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