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

In less than two weeks after the previous Bitcoin purchase, Microstrategy purchased more Bitcoins. The company added 1,434 coins to its treasury, bringing its total inventory to 122,478 coins. At the time of writing, the company's total Bitcoin supply is approximately $6 billion.

Microstrategy buys 1,434 more Bitcoins

Nasdaq-listed company Microstrategy has bought more Bitcoin. CEO Michael Saylor announced on Thursday:

Microstrategy purchased an additional 1,434 Bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per Bitcoin. As of 12/9/21, we hold ~122,478 Bitcoins purchased for ~$3.66 billion at an average price of ~$29,861 per Bitcoin.

Before this latest purchase, Microstrategy Bought 7,002 Bitcoins End of November.

At the time of writing, Bitcoin’s price is $48,736.87 based on data from Bitcoin.com Markets. This means that Microstrategy's Bitcoins are now worth almost $6 billion.

Saylor believes Bitcoin will become one $100 trillion asset class, noting that the cryptocurrency is winning against gold. “Digital gold will replace gold this decade,” he said.

The Microstrategy CEO discussed the increasing adoption of Bitcoin worldwide on Yahoo Finance Live on Thursday. Commenting on gold as an investment, he said that gold is threatened by Bitcoin. "The best thing you can 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's no hope for it." He tweeted:

Gold used to be the most sought-after store of value. Now Bitcoin is taking its place.

What do you think about Microstrategy buying more Bitcoin and Saylor's comments? Let us know in the comments section below.

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