Microstrategy has purchased 7,002 more bitcoins, growing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor says, “Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.”
Microstrategy now has 121,044 Bitcoins in its treasury
The Nasdaq-listed company Microstrategy bought an additional 7,002 bitcoins. CEO Michael Saylor tweeted 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.
At the time of writing, the price of bitcoin is $ 57,095.58 based on data from Bitcoin.com Markets. This means that Microstrategy’s bitcoin is now worth over $ 6.9 billion.
Recently, Saylor discussed bitcoin becoming a $100 trillion asset class. He noted that bitcoin is winning against gold, asserting that “digital gold is going to replace gold this decade.” The bitcoin market cap is currently around $1.11 trillion.
Additionally, the Microstrategy executive said he was not at all troubled by the regulations being discussed in Washington, noting that they would affect security tokens, decentralized financial exchanges (challenge), exchanges crypto and other non-bitcoin cryptocurrency use cases. . In his opinion, “bitcoin is unstoppable as a digital property”.
On Friday, Saylor tweeted, “Bitcoin offers better inflation protection than gold and is growing faster than big tech.” He believes that BTC “is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.” He emphasized, “In time, we will come to understand that it is concentrated energy in digital form and critical to the progression of our civilization.”
Commenting on reports that the Indian government may seek to ban cryptocurrencies, such as bitcoin and ether, the Microstrategy boss said:
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.
In contrast, Saylor explained that “a stablecoin is a digital currency to be used as a medium of exchange and will be issued by chartered banks.”
