MicroStrategy, one of many largest company Bitcoin holders, has elevated its Bitcoin reserves amid record-breaking costs surpassing $100,000.
MicroStrategy has acquired 21,550 BTC for ~$2.1 billion at ~$98,783 per #bitcoin and has achieved BTC Yield of 43.2% QTD and 68.7% YTD. As of 12/8/2024, we hodl 423,650 $BTC acquired for ~$25.6 billion at ~$60,324 per bitcoin. $MSTR https://t.co/8r7bFqMFof
— Michael Saylor⚡️ (@saylor) December 9, 2024
The corporate introduced on December ninth that it bought 21,550 Bitcon between December 2nd and December eighth for $2.1 billion, at a mean value of $98,783 per Bitcoin.
This brings MicroStrategy’s whole holdings to 423,650 Bitcoin, acquired at a complete value of $25.6 billion, averaging $60,324 per Bitcoin, based on co-founder and government chairman Michael Saylor.
MicroStrategy’s newest acquisition got here shortly after Bitcoin surpassed $100,000 on December fifth, marking a big milestone for the asset. Regardless of the surge, Saylor has reaffirmed his long-term confidence in Bitcoin.
“I’m positive that I will likely be shopping for Bitcoin at $1 million a coin — in all probability $1 billion {dollars} a day of Bitcoin at $1 million a coin,” Saylor acknowledged throughout an interview on Yahoo Finance’s Market Domination.
$BTC is “going to understand in opposition to the greenback ceaselessly,” MicroStrategy government chairman @saylor says, including: “I count on that it’ll be probably the most worthwhile factor on the planet 100 years from now.” pic.twitter.com/15RaoqV82A
— Yahoo Finance (@YahooFinance) December 5, 2024
Saylor’s Advocacy for Bitcoin Over Gold
Saylor has additionally instructed that the U.S. authorities may gain advantage from changing gold reserves with Bitcoin to hedge in opposition to inflation.
“Dump your gold. Promote all of the US gold, [and] purchase Bitcoin, then the commerce is free as a result of you should buy 5 million Bitcoin for the price of the gold. You’ll demonetize your complete gold asset class, and our enemies maintain gold of their banks, so their property would go to zero. Our property would go to 100 trillion {dollars},” he remarked throughout the identical Yahoo Finance interview.
Federal Reserve Chair Jerome Powell not too long ago acknowledged Bitcoin’s standing as a competitor to gold however acknowledged it poses no risk to the U.S. greenback.
MicroStrategy’s technique displays its sturdy perception in Bitcoin as a long-term asset.
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