The post MicroStrategy Bitcoin Holdings Surge with 21,550 BTC Purchase Worth $2.1 Billion appeared first on Coinpedia Fintech News
MicroStrategy acquired 21,550 BTC for $2.1 billion at $98,783 per bitcoin, yielding 43.2% QTD and 68.7% YTD. As of 12/8/2024, the company holds purchases for around $25.6 billion at a price of around $60,324 per bitcoin.
With today’s purchase, MicroStrategy’s total Bitcoin holdings now stand at an astonishing 423,650 BTC purchased for around $25.6 billion at a price of around $60,324 per bitcoin.
Saylor’s Vision for Bitcoin
Michael Saylor, Executive Chairman of MicroStrategy, has been a vocal advocate for Bitcoin’s potential to hedge against inflation and store value in a digital economy.
Recently, Saylor urged the U.S. government to replace its gold reserves with Bitcoin.
He argued, “Sell all the U.S. gold and buy Bitcoin. It will devalue gold globally, harming our enemies while increasing U.S. assets to $100 trillion.”
In addition to this, Saylor hinted at exciting developments linking Bitcoin with corporate strategies, especially through partnerships with Microsoft. He suggested that Microsoft could significantly boost its valuation, adding up to $4 trillion by using Bitcoin for cash reserves, dividends, and buybacks.
With more institutions adopting Bitcoin, its market potential is rising. Read our Bitcoin price prediction for insights on what’s ahead!
Impact on Bitcoin’s Price $13 Million By 2045
After the announcement, Bitcoin’s price rose slightly, trading around $99,000. Analysts believe that companies like MicroStrategy adopting Bitcoin could boost its growth.
During a recent appearance on Fox Business, Saylor predicted that the crypto market could grow from $2 trillion to $280 trillion by 2045. He also said Bitcoin might reach $13 million per coin by then, showing his strong belief in its long-term potential.
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FAQs
MicroStrategy owns 423,650 BTC, purchased for around $25.6 billion at an average price of $60,324 per Bitcoin as of December 2024.
MicroStrategy invests heavily in Bitcoin as a treasury asset, viewing it as a hedge against inflation and a store of value in the digital economy.
MicroStrategy sees Bitcoin as a superior store of value compared to traditional assets, aiming to strengthen its financial reserves and long-term growth.
