Microstrategy, which is listed on Nasdaq, bought more bitcoins for its corporate treasury. The latest purchase of 1,914 coins brought the company’s total cryptocurrency to 124,391 bitcoins. CEO Michael Saylor recently said that he expects the price of the cryptocurrency to reach $ 6 million.
Microstrategy bought more Bitcoin
The pro-bitcoin company Nasdaq, Microstrategy, bought another 1,914 BTC. With the latest purchase, the company now has 124,391 bitcoins. Microstrategy CEO Michael Saylor announced on Thursday via Twitter:
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 were acquiring ~ 124,391 bitcoins for ~ $ 3.75 billion at an average price of ~ $ 30,159 per bitcoin,” he detailed.
The price of BTC fell slightly on Thursday. At the time of this writing, it was hovering around $ 47,398, after losing 1.4% in the last 24 hours. At current price, Microstrategy’s BTC shares are worth roughly $ 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 has repeatedly said that bitcoin will replace gold. “Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place, ”he tweeted earlier this month. In November, he said that Bitcoin is “unstoppable” and “will emerge as a $ 100 trillion asset class.” Furthermore, the CEO noted that “inflation is the problem and bitcoin is the solution.”