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MicroStrategy keeps stacking Bitcoin despite BTC hitting all-time high prices, with its co-founder Michael Saylor confident that his company will still buy it at $1 million per coin.
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MicroStrategy, one of the largest corporate holders of Bitcoin, continues stacking BTC despite the cryptocurrency surging to new all-time high prices above $100,000.
MicroStrategy acquired 21,550 BTC for $2.1 billion from Dec. 2–8 at an average price of $98,783 per BTC, the company officially announced on Dec. 9.
As of Dec. 8, MicroStrategy held a total of 423,650 BTC acquired for $25.6 billion at $60,324 per BTC, MicroStrategy co-founder and former CEO Michael Saylor said in a statement on X.
The announcement came shortly after Saylor predicted that he would be buying Bitcoin when it hits $1 million one day.
“I’m confident I’ll be buying Bitcoin at $1 million per coin”
MicroStrategy’s latest Bitcoin purchase came at a time when Bitcoin reached new all-time highs, breaking above $100,000 for the first time in its history on Dec. 5.
Despite the new highs, MicroStrategy co-founder Saylor reiterated his bullish stance on the cryptocurrency and his hodl philosophy.
MicroStrategy co-founder Michael Saylor predicted that he would be buying Bitcoin at $1 million per coin. Source: Bitcoin News
“I’m confident I’ll be buying Bitcoin at $1 million per coin — likely around $1 billion worth of Bitcoin per day at that price,” Saylor said in an appearance on Yahoo Finance’s Market Domination.
“I’ll be buying the top forever,” Saylor added.
Saylor urges the US to dump gold for Bitcoin
The Bitcoin bull has also urged the United States government to dump gold reserves and buy more Bitcoin as a hedge against inflation.
“Dump your gold, sell all the US gold, and buy Bitcoin because you can buy 5 million Bitcoin for the cost of the gold. You’ll de-monetize the entire gold asset class, and our enemies hold gold in their banks, and so their assets would go to zero, while our assets go to trillion dollars,” Saylor stated.
Saylor’s remarks came amid US Federal Reserve Chair Jerome Powell reiterating that Bitcoin is a direct competitor to gold and isn’t a threat to the US dollar.
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