Microstrategy is shopping for extra Bitcoin and now holds 124,391 BTC

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Microstrategy, listed on the Nasdaq, has bought more Bitcoin for its corporate coffers. The most recent purchase for 1,914 coins brought the company’s total cryptocurrency holdings to 124,391 bitcoins. CEO Michael Saylor recently said that he expects the price of the cryptocurrency to eventually reach $ 6 million.

Microstrategy bought more bitcoin

The pro-Bitcoin company Microstrategy, listed on the Nasdaq, has bought 1,914 more BTC. With the most recent purchase, the company now holds 124,391 bitcoins. Microstrategy CEO Michael Saylor announced on Twitter on Thursday:

Microstrategy bought 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 hold ~ 124,391 bitcoins that were purchased for ~ $ 3.75 billion at an average price of ~ $ 30,159 per bitcoin,” he said.

The price of BTC fell slightly on Thursday. At the time of writing, it’s around $ 47,398 after losing 1.4% in the past 24 hours. At the current price, Microstrategy’s BTC stash is worth around $ 5.9 billion.

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

Saylor repeatedly said that Bitcoin will replace gold. “Gold was once the most sought-after store of value. Bitcoin is now taking its place, ”he tweeted earlier this month. In November, he said Bitcoin is “unstoppable” and will “emerge as a $ 100 trillion asset class.” Additionally, the CEO stated that “inflation is the problem and bitcoin is the solution.”

What do you think of Microstrategy buying more Bitcoin? Let us know in the comment section below.

Kevin Helms

Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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