MicroStrategy has been making a lot of headlines this year after buying Bitcoin like crazy.
This definitely helps the mainstream adoption of the king coin, as we already reported more than once.
MicroStrategy, which is one of the largest independent publicly-traded business intelligence companies in the world, plans to buy $400 million worth of Bitcoin, according to the latest reports coming from the Daily Hodl.
MicroStrategy buys more BTC
MicroStrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now hold approximately 40,824 bitcoins.https://t.co/nwZcM9zAXZ
— Michael Saylor (@michael_saylor) December 4, 2020
The famous Hodlonaut (who is missing from Twitter at the moment) also tweeted this relevant message:
Micro strategy now holds 40k bitcoin.
There is about 2.44M bitcoin left to mine.
So if we think of fresh supply coming in, there is only room for 61 more companies to hold as much as MSTR before the last sat is mined.
The rest has to be torn out of hodler hands.— hodlonaut 🌮⚡🔑 🐝 (@hodlonaut) December 4, 2020
Michael Saylor recently revealed that Bitcoin could surge by 100 times from the current price.
Bitcoin can surge by more than 100 times
During a recent fireside chat with Binance founder Changpeng Zhao, Saylor said that Bitcoin has to transform its old narrative of being a volatile and speculative asset that suitable for just investing 1% or 2% of one’s capital into becoming the ultimate safe haven and store of value asset.
“I’m talking about getting 50% of the money from 100% of the investors,” he said.
He also made sure to compare Bitcoin and gold. He believes that gold is outdated, and it’s not a true competition for Bitcoin.
“Gold is defective. It’s an antiquated store of value. It was the best store of value for 5,000 years until we invented the computer… It was a good idea until it became not a good idea,” he said as cited by the Daily Hodl.
At the moment of writing this article, BTC is trading in the reed, and the coin is priced at $19,181.78.
“I’m talking about getting 50% of the money from 100% of the investors,” he said.
He also made sure to compare Bitcoin and gold. He believes that gold is outdated, and it’s not a true competition for Bitcoin.
“Gold is defective. It’s an antiquated store of value. It was the best store of value for 5,000 years until we invented the computer… It was a good idea until it became not a good idea,” he said as cited by the Daily Hodl.
At the moment of writing this article, BTC is trading in the reed, and the coin is priced at $19,181.78.