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

Microstrategy has purchased additional bitcoins within a matter of weeks, less than two months after the previous purchase. Microstrategy has now added 1,434 more coins to its Treasury, taking the total to 122.478 coins. At the time of writing, the company’s total bitcoin stash is worth about $6 billion.

Buy 1,434 more Bitcoins from Microstrategy

Microstrategy is now listed on the Nasdaq. They have purchased additional bitcoin. The CEO Michael Saylor made the announcement Thursday

Microstrategy purchased 1,434 additional bitcoins at a price average of $57.477 per Bitcoin. We currently hold 122 478 bitcoins that we purchased for $3.66 Billion at an average cost of $29.861 each.

Microstrategy purchased 7,002 Bitcoins before this purchase.

According to data from Bitcoin.com Markets at the time this article was written, the bitcoin price currently stands at $48,736.87. This means Microstrategy’s bitcoins are now worth almost $6 billion.

Saylor predicts that bitcoin could become an asset class worth $100 trillion, noting how the cryptocurrency has outperformed gold. “Digital gold is going to replace gold this decade,” he said.

Microstrategy’s CEO, David McMillan, spoke on Yahoo Finance Live about the growing adoption of Bitcoin worldwide. When he spoke out about gold investments, Saylor said that bitcoin is threatening gold. “The best thing you could do is sell all $10 trillion of gold and buy bitcoin,” Saylor suggested, adding: “Gold is a dead rock. It’s the worst-performing asset, bar none, no debate. There is no hope for it.” He tweeted:

Gold was once the best store of value. Bitcoin is now in its place.

What do you think about Microstrategy buying more bitcoin and Saylor’s comments? Comment below.

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