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Microstrategy Buys Into Bitcoin
Description
Business intelligence outfit MicroStrategy ($MSTR@US) has been adding crypto assets to its portfolio in recent weeks. Between November 29 and December 8, MicroStrategy bought over 1400 Bitcoins valued at just over $82 million. The average value per MSTR was well over $57 thousand. As of Wednesday, MicroStrategy held over 122 thousand Bitcoins, with an aggregate purchase price nearing $4 billion. MicroStrategy’s CEO, Michael Saylor, has proclaimed himself a Bitcoin bull on several occasions, believing that it is taking the place of gold in the minds of investors. He took to Twitter ($TWTR@US), saying, “Once upon a time, #gold was the most desirable store of value. Now #Bitcoin is taking its place.” he went on to say, “The price of #Bitcoin will be driven by inflation, technology, and adoption.” Even as Saylor stumped for crypto over gold, Bitcoin was falling. At press time Bitcoin volume was up over 8% and its market cap still occupies nearly a third of the crypto industry.
Keywords & Tags
#bitcoin
#crypto
#cryptocurrency
#nft
#non-fungible token
#finance
#inflation
#business
#crypto news
#CEO
#blockchain
#technology
#tech
#altcoins
#economic recovery
#digital asset
#crypto broker
#crypto mining
#gold
#crypto industry
#economic growth
#virtual currency
#economic outlook
#Michael Saylor
#MicroStrategy
#Buys Bitcoin
#Crypto Over Gold
#Business intelligence
##gold
##Bitcoin
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