Software company MicroStrategy has long been a faithful believer in Bitcoin. Its co-founder, Micro Saylor, recently announced that the company has purchased 14,600 bitcoins at an average price of $42,110, bringing its total holdings to over 189,000.
Background: MicroStrategy recently spent £150 million to buy an additional 6,455 bitcoins, bringing its total holdings to 138,955 BTC.
MicroStrategy is one of the biggest proponents of Bitcoin. In late November, the company purchased 16,130 BTC for $593 million and has been steadily adding to its holdings over the past three months. The company’s significant investment in Bitcoin has already yielded a profit of over $2.2 billion.
Micro Saylor has previously stated that Bitcoin is the best way to store and protect wealth. He believes that Bitcoin’s design is specifically intended to address currency risks and offers a range of inherent advantages. One of these advantages is the limited supply of Bitcoin, with a total of only 21 million coins. This makes it a conservative monetary network that is resistant to inflation and asset loss. Saylor emphasizes that Bitcoin’s unique feature is its ability to store economic energy, preventing its devaluation or loss.
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