Microstrategy bought an additional 7,002 bitcoins, bringing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor said, “Bitcoin is the only property you can truly own, and the first technology capable of granting property rights to everyone on earth.”
Microstrategy now has 121,044 Bitcoins in its treasury
The Nasdaq-listed company Microstrategy bought an additional 7,002 bitcoins. CEO Michael Saylor tweeted on Monday:
Microstrategy bought an additional 7,002 bitcoins for around $ 414.4 million in cash at an average price of around $ 59,187 per bitcoin. As of 11/29/21, we had acquired approximately 121,044 bitcoin for approximately $ 3.57 billion at an average price of approximately $ 29,534 per bitcoin.
At the time of writing, the price of bitcoin is $ 57,095.58 based on data from Bitcoin.com Markets. This means that Microstrategy’s bitcoin is now worth over $ 6.9 billion.
Recently, Saylor discussed bitcoin becoming a $ 100,000 billion asset class. He noted that bitcoin is winning against gold, saying “digital gold will replace gold this decade”. Bitcoin’s market capitalization is currently around $ 11.1 trillion.
Additionally, the Microstrategy executive said he was not at all troubled by the regulations being discussed in Washington, noting that they would affect security tokens, decentralized financial exchanges (challenge), exchanges crypto and other non-bitcoin cryptocurrency use cases. . In his opinion, “bitcoin is unstoppable as a digital property”.
Saylor tweeted on Friday: “Bitcoin offers better inflation protection than gold and grows faster than big tech.” He believes that BTC “is the only property you can really own, and the first technology that can grant property rights to everyone on earth.” He stressed, “Over time, we will understand that this is energy that is concentrated in digital form and essential to the advancement of our civilization.
Commenting on reports that the Indian government may seek to ban cryptocurrencies, such as bitcoin and ether, the Microstrategy boss said:
Bitcoin is digital property and is going to be adopted as a store of value in every country that allows citizens to own private property.
In contrast, Saylor explained that “a stablecoin is a digital currency to be used as a medium of exchange and will be issued by chartered banks.”
What do you think of the purchase of bitcoins by Microstrategy? Let us know in the comments section below.
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