MicroStrategy, a major corporate Bitcoin investor, continues to amass BTC despite the cryptocurrency reaching unprecedented highs, surpassing $100,000.
Between December 2 and December 8, MicroStrategy added 21,550 BTC to its reserves, investing $2.1 billion at an average price of $98,783 per Bitcoin, as revealed in a December 9 announcement.
By December 8, the company’s Bitcoin holdings had grown to 423,650 BTC, acquired at a total cost of $25.6 billion, averaging $60,324 per Bitcoin. Michael Saylor, MicroStrategy’s co-founder, chairman, and former CEO, shared these updates on X (formerly Twitter).
This latest acquisition follows Saylor’s bold prediction that he will continue buying Bitcoin even if it reaches $1 million per coin.
“I’ll Be Buying Bitcoin at $1 Million a Coin”
MicroStrategy’s purchase coincided with Bitcoin’s historic milestone on December 5, when the cryptocurrency broke past $100,000 for the first time.
Despite these record-breaking highs, Saylor reaffirmed his optimistic outlook and commitment to the cryptocurrency, emphasizing his “hodl” philosophy.
In an interview with Yahoo Finance’s Market Domination, Saylor said, “I’m confident I’ll be buying Bitcoin at $1 million per coin—potentially even investing $1 billion a day at that price.”
Advocating for the US to Embrace Bitcoin Over Gold
Saylor has also been vocal about his belief in Bitcoin as a superior asset to gold. He has urged the U.S. government to sell its gold reserves and pivot to Bitcoin as a hedge against inflation.
“Sell your gold. Use the proceeds to buy Bitcoin. This move would effectively make the trade free because you could acquire 5 million Bitcoin for the value of the gold,” Saylor argued in the same interview. He added, “Doing so would collapse the value of gold, diminish the wealth of our adversaries who hold gold, and skyrocket U.S. assets to $100 trillion.”
Saylor’s remarks came shortly after Federal Reserve Chair Jerome Powell acknowledged Bitcoin as a competitor to gold while affirming that it does not threaten the U.S. dollar.
MicroStrategy’s relentless Bitcoin acquisitions and Saylor’s bold predictions underline the company’s unwavering confidence in the long-term value of cryptocurrency.
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