Michael Saylor’s MicroStrategy (MSTR), the largest corporate holder of Bitcoin
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, continues its Bitcoin purchasing spree with a recent $2.1 billion purchase.
The company announced today (December 9) that between December 2-8, it acquired 21,550 BTC for $2.1 Billion at an average price of $98,783 per BTC.
MicroStrategy co-founder Michael Saylor posted on X today, stating that as of December 8, the firm holds a total of 423,650 BTC acquired for $25.6 billion at an average price of $60,324 per BTC.
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
Saylor States “I’m confident I’ll be buying Bitcoin at $1 million per coin”
The MicroStrategy co-founder has recently been in the news for claiming he would buy Bitcoin when it hits $1 million one day. “I’m confident I’ll be buying Bitcoin at $1 million per coin, likely around $1 billion worth of Bitcoin per day at that price,” Saylor said during an appearance on Yahoo Finance’s Market Domination.
This latest BTC purchase by MicroStrategy comes at a time when the number one digital asset reached new all-time highs, breaking above $100,000 for the first time in its history on December 5.
Despite its new all-time high, MicroStrategy co-founder Saylor doubled down on his bullish stance for Bitcoin and his ‘hodl’ mentality. “I’ll be buying the top forever,” he said.
Saylor Pleads With The US To Dump Its Gold For Bitcoin
BREAKING: 🇺🇸 Fed Chair Jerome Powell says #Bitcoin is a competitor to gold, not the US dollar. pic.twitter.com/YQHFiThTBo
— Bitcoin Magazine (@BitcoinMagazine) December 4, 2024
In a push for the much talked about ‘strategic Bitcoin reserve’, Saylors has urged the US government to dump its gold reserves and buy more Bitcoin.
He said, “Dump your gold, sell all the US gold, and buy Bitcoin because you can buy 5 million Bitcoin for the cost of the gold. You’ll de-monetize the entire gold asset class, and our enemies hold gold in their banks, so their assets would go to zero, while our assets go to trillion dollars.”
Saylor’s comments were made while current US Federal Reserve Chair Jerome Powell reiterated that Bitcoin is a direct competitor to gold but isn’t a threat to the US dollar.
During a recent New York Times DealBook Summit talk, Powell said, “People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital. People are not using it as a form of payment or as a store of value; it’s highly volatile.”
“It’s not a competitor for the dollar,” he emphasized. “It’s really a competitor for gold, that’s really how I think about it.”
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