Microstrategy purchased more bitcoins in less than two weeks from its last purchase. The company has added 1,434 coins to its treasury, bringing the total holdings to 122,478 coins. The company’s total bitcoin holdings are approximately $6 billion at the time of writing.

Microstrategy Purchases 1,434 More Bitcoins

Another bitcoin-buying company, Microstrategy, has been listed on the Nasdaq. Michael Saylor, CEO, announced Thursday:

Microstrategy has 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 hodl ~122,478 bitcoins acquired for ~$3. 66 billion at an average price of ~$29,861 per bitcoin.

Before this latest purchase, Microstrategy bought 7,002 bitcoins at the end of November.

At the time of writing, the price of bitcoin is $48,736. 87 based on data from Bitcoin.com Markets. Microstrategy’s Bitcoins now have a value of almost $6 billion.

Saylor believes that bitcoin will become a $100 trillion asset class, noting that the cryptocurrency is winning against gold. He stated that digital gold will replace gold in the next decade.

The CEO of Microstrategy discussed the growing adoption of bitcoin worldwide on Yahoo Finance Live on Thursday. He said that bitcoin is threatening gold as an investment and commented on gold as an investment. “The best thing you could do is sell all $10 trillion of gold and buy bitcoin,” Saylor suggested, adding: “Gold is a dead rock. It is the worst performing asset. There is no debate about it. It is impossible to hope for it,” he tweeted:

Once upon a time, gold was the most desirable store of value. Bitcoin is now in its place.

What do you think about Microstrategy buying more bitcoin and Saylor’s comments? Please leave your comments below.

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