Nasdaq-listed Microstrategy has bought more bitcoin for its corporate treasury. The latest purchase for 1,914 coins has raised the company’s total cryptocurrency holdings to 124,391 bitcoins. CEO Michael Saylor recently said that he expects the price of the cryptocurrency to eventually reach $6 million.
Microstrategy bought more Bitcoin
The pro-bitcoin company listed on Nasdaq Microstrategy bought an additional 1,914 BTC. With the latest purchase, the company now owns 124,391 bitcoins. Microstrategy CEO Michael Saylor announced Thursday via Twitter:
Microstrategy has purchased 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 have obtained ~ 124,391 bitcoins acquired for ~ $ 3.75 billion at an average price of around $ 30,159 per bitcoin,” he detailed.
The price of BTC fell slightly Thursday. At the time of writing, it is hovering at about $47,398 after losing 1.4% over the last 24 hours. At the current price, Microstrategy’s BTC stash is worth about $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 hit $ 600,000 a coin and eventually hit $ 6 million.
Saylor 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.”