Microstrategy Buys 7,002 More Bitcoins, Growing Crypto Stash to 121,044 BTC

Microstrategy, a Nasdaq-listed company, has bought 7,002 bitcoins more. Monday’s tweet from CEO Michael Saylor:

Microstrategy purchased 7,002 additional bitcoins at a price of $59.187 per bitcoin. We currently hold 121,044 Bitcoins that we purchased for $3.57 Billion at an average cost of $295,534 per bitcoin.

Based on data from Bitcoin.com markets, bitcoin’s current price is $57,095.58 at the time of writing. This means that Microstrategy’s Bitcoins now have a value of more than $6.9 Billion.

Saylor recently discussed bitcoin becoming an $100 trillion asset type. He stated that bitcoin is beating gold and that digital gold will replace gold in the next decade. The current bitcoin market cap is around $1.11 trillion.

Microstrategy’s executive stated that he is not concerned by the regulation being discussed in Washington. He noted that it will impact security tokens and decentralized finance exchanges (defi), crypto exchanges, as well as other uses of cryptocurrency that aren’t bitcoin. According to him, “bitcoin is inexorable as a digital property.”

Saylor tweeted Friday that Bitcoin offers more inflation protection than gold, and is growing faster then big tech. He believes Bitcoin is the only property that you can actually own and the first technology to grant property rights to all people on the planet. He stated, “In time, it will become clear that it is concentrated digital energy and crucial to the advancement of our civilization.”

The Microstrategy boss commented on reports that India may seek to ban cryptocurrencies like bitcoin and ether.

Bitcoin is digital property. It will be used in every country that permits citizens to own private property as a store-of-value asset.

Saylor, however, explained that ‘a stablecoin is a digital currency that can be used as a medium for exchange and will only be issued by chartered banking institutions