JAKARTA – Microstrategy is reported to have purchased 7,002 BTC of Bitcoin again for 59,187 US dollars (around IDR 848,593,612). The purchase added to the coffers of the company's Bitcoin collection.
For information, MicroStrategy is a company that provides business intelligence services, mobile software, and cloud-based services. The company was founded by Michael Saylor in 1989. Microstrategy develops software for business purposes and data analysis.
The purchase of thousands of Bitcoins was announced live by Michael Saylor in a tweet on Monday.
MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX
— Michael Saylor⚡️ (@saylor) November 29, 2021
Michael Saylor predicts that Bitcoin will replace gold this decade. He referred to bitcoin as “digital gold”. Saylor also explained that “Bitcoin is unstoppable as a digital asset.”
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The founder of Microstrategy revealed that Bitcoin can be a hedge especially in times of inflationary pressures and BTC is claimed to have faster growth even when compared to big technology.
“Bitcoin offers better inflation protection than gold and grows faster than big technology.”
Saylor believes that Bitcoin “is the only property you can truly own, as well as the first technology capable of giving property rights to everyone on earth.” He added that digital assets would "play an important role in the progress of our civilization.
Alluding to the recent crypto ban by the Indian government, Saylor commented that “Bitcoin will be adopted as a store of value asset in every country that allows its citizens to own private property.”
In addition, he also mentioned stable coins whose price is tied to the dollar. “Stablecoins are digital currencies to be used as a medium of exchange and will be issued by leasing banks”, said the Microstrategy boss.
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