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Nasdaq-listed business intelligence firm MicroStrategy has added 7,002 Bitcoins to its totals and is now holding 121,044 Bitcoins worth around $6.8 billion. The latest purchase was announced by CEO and Bitcoin bull Michael Saylor on Monday.
MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX
— Michael Saylor (@saylor) November 29, 2021
Saylor recently opined Bitcoin had the potential to grow 100x towards a $100 trillion asset class and that it is gaining grounds on gold. He said that “digital gold is going to replace gold this decade.”
Following reports that India is considering a ban on cryptocurrencies, the MicroStrategy executive took to Twitter for some free advice:
#Bitcoin is Digital Property and is going to be adopted as a Store of Value asset in every nation that allows citizens to own private property. A #Stablecoin is Digital Currency for use as a Medium of Exchange and will be issued by chartered banks.https://t.co/bfbm2Yplk6
— Michael Saylor (@saylor) November 24, 2021
On Friday Friday, Saylor reiterated his stance that Bitcoin is a stronger alternative than gold, stating that it “is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth”:
#Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth. In time, we will come to understand that it is concentrated energy in digital form and critical to the progression of our civilization.
— Michael Saylor (@saylor) November 26, 2021
MicroStrategy’s latest purchases had already been some time ago. Three months ago the company bagged 5,050 Bitcoin.
The post MicroStrategy Adds 7,002 More Bitcoins, Holding 121,044 BTC in Total appeared first on iGaming.org.
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Author: Peter Siu