Wednesday, January 19, 2022
HomeCrypto NewsMicrostrategy Purchases More Bitcoin. Now Holding 124.391 BTC

Microstrategy Purchases More Bitcoin. Now Holding 124.391 BTC

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, CEO of the company, recently stated that he anticipates the cryptocurrency’s price to reach $6 million.

Microstrategy has purchased more Bitcoin
Microstrategy, a Nasdaq-listed pro-bitcoin company, has bought 1 ,914 more BTC. With the latest purchase, the company now holds 124,391 bitcoins. Microstrategy CEO Michael Saylor made the announcement via Twitter on Thursday:

Microstrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per bitcoin.

“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. At the time of writing, it is hovering at about $47,398 after losing 1.4% over the last 24 hours. Microstrategy has a BTC stash worth $5.9 billion at the current price.

The pro-bitcoin CEO of Microstrategy personally owns about 17,732 BTC. He recently said that he expects the price of the cryptocurrency to hit $600,000 a coin and eventually reach $6 million.

Saylor repeated his belief that bitcoin would replace gold. “Once upon time, gold was the most valuable store of value. He tweeted this month that bitcoin was taking its place. He stated that bitcoin was “unstoppable” in November and that it would “emerge [as a $100 trillion] asset class.” Additionally, the CEO said that inflation is the problem, and that bitcoin is the solution.

What do you think of Microstrategy purchasing more bitcoin? Comment below to let us know your thoughts.

Kevin Helms

Kevin, a student of Austrian Economics and evangelist since then. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.

Image Credits: Shutterstock. Pixabay. Wiki Commons.

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