MicroStrategy Again Buys Bitcoin (BTC) This December

MicroStrategy CEO Denies Firm Selling Bitcoin Holdings Amid Rumors
  • The company also made a Bitcoin acquisition of $84 million in early December.
  • MicroStrategy’s stock has gained about 30 percent for the year.

MicroStrategy, the Nasdaq-listed business intelligence software firm that has been stockpiling bitcoin said that it purchased 1,914 bitcoins for $94.2 million between December 9 and 29.

Also noteworthy is that if Bitcoin prices continue at or above $30,000, the firm will be able to break even and remain in business. The company also made a Bitcoin acquisition of $84 million in early December.

Last month, the Information reported that CEO Michael Saylor has $866 million in Bitcoin in his own wallet. He predicts the top cryptocurrency’s price will soar above $600,000, but he doesn’t provide a specific time range for when this would happen. In the end, Saylor thinks that Bitcoin’s deflationary characteristic will keep it increasing in value in perpetuity.

Christmas Present for Bitcoin Investors

Since Bitcoin is yet to be hacked and all of its clones “failed,” the permabull has recognized that Bitcoin’s sole genuine risk is a specific black swan occurrence, according to an interview with Yahoo! Finance earlier this month.

Gold bug Peter Schiff believes that the price of Bitcoin would be “far lower” if it weren’t for MicroStrategy’s recent Bitcoin acquisition binge. According to him, sellers received a “Christmas present” from Saylor after he bought their most recent item.

MicroStrategy’s stock has gained about 30 percent for the year, which isn’t much better than the S&P 500 index. According to CoinMarketCap, the Bitcoin price today is $47,665.27 USD with a 24-hour trading volume of $28,680,797,414 USD.

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