Microstrategy has bought 7,002 more bitcoins, bringing its total cryptocurrency holdings to 121,044 coins. According to CEO Michael Saylor, “Bitcoin is the only true property you can own, as well as the first technology capable of granting property rights to everyone on the planet.”
Microstrategy now has 121,044 Bitcoins in its possession.
Microstrategy, a Nasdaq-listed company, has purchased 7,002 more bitcoins. Monday, CEO Michael Saylor tweeted:
Microstrategy has acquired an additional 7,002 bitcoins for $414.42 million in cash at an average price of $59,187 per bitcoin. As of 11/29/21, we had 121,044 bitcoins worth $3.57 billion at an average price of $29.534 per bitcoin.
The price of bitcoin is $57,095.58 at the time of writing. This means that the bitcoins owned by Microstrategy are now worth more than $6.9 billion.
Saylor recently discussed bitcoin becoming a $100 trillion asset class. He stated that bitcoin is outperforming gold and that “digital gold will replace gold this decade.” The current market capitalization of bitcoin is around $1.11 trillion.
Furthermore, the Microstrategy executive stated that he is unconcerned about the regulation being debated in Washington, noting that it will affect security tokens, decentralized finance (defi) exchanges, crypto exchanges, and other non-Bitcoin use cases of cryptocurrency. “Bitcoin is unstoppable as a digital asset,” he believes. ins, increasing cryptocurrency stash to 121,044 BTC
“Bitcoin offers better inflation protection than gold and is growing faster than big tech,” Saylor tweeted on Friday. He believes that BTC is “the only true property you can own, as well as the first technology capable of granting property rights to everyone on the planet.” “In time, we will come to understand that it is concentrated energy in digital form that is critical to the progression of our civilization,” he said.
In response to reports that the Indian government is considering outlawing cryptocurrencies such as bitcoin and ether, the Microstrategy CEO stated:
Bitcoin is a form of digital property that will be adopted as a store of value asset in every country that allows citizens to own private property.
Saylor, on the other hand, defined a stablecoin as “digital currency for use as a medium of exchange that will be issued by chartered banks.”