Originally published on: December 09, 2024
In a bold move, tech company MicroStrategy has acquired a staggering 21,550 BTC for $2.1 billion while Bitcoin was soaring to new heights above $100,000. This acquisition brings the company’s total Bitcoin holdings to an impressive 423,650 BTC purchased for $25.6 billion at an average price of $60,324 per BTC.
Despite Bitcoin hitting new all-time highs, MicroStrategy’s co-founder Michael Saylor remains bullish on the cryptocurrency. Saylor confidently stated that he would continue buying Bitcoin even if it reaches $1 million per coin, envisioning a future where he could purchase $1 billion worth of Bitcoin daily at that price.
Saylor’s unwavering faith in Bitcoin has led him to urge the US government to sell its gold reserves and invest in Bitcoin as a hedge against inflation. He believes that this strategic move would not only demonetize the gold asset class but also bolster the country’s assets to a staggering hundred trillion dollars.
MicroStrategy’s recent purchase took place as Bitcoin broke the $100,000 barrier for the first time on December 5. Saylor’s audacious predictions and visionary strategies have earned him the title of ‘China’s MicroStrategy’ in the cryptocurrency world.
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