- MicroStrategy and Metaplanet resumed their Bitcoin purchases, adding significantly to their holdings.
- Despite Bitcoin’s price drop, MicroStrategy added 5,262 BTC, bringing their total to 444,262 BTC.
- Metaplanet followed suit, purchasing 619.7 BTC, increasing their total to 1,762 BTC.
- Michael Saylor predicts Bitcoin will capture 7% of global currency within 21 years, advising to keep buying.
In news that will shock absolutely no one, the big guys are scooping up Bitcoin again. Yes, MicroStrategy (MSTR) and its Japanese counterpart, Metaplanet, have continued their BTC buying spree, in a special Christmas edition.
Related: Aussie Analyst Says Crypto Done for, He’s Out if This Happens
MicroStrategy’s playbook has long been to just buy Bitcoin, no matter the price. And Michael Saylor’s Tysons Corner, Virginia-based software company has been executing that strategy perfectly, adding BTC to their stash for the seventh Monday in a row.
So, what’s the latest purchase then?
From 0.1% of Global Supply to 7%
Saylor revealed the company bought a further 5,262 BTC, bringing the total Bitcoin holding to 444,262 BTC. The recent addition cost the company an eye-watering US$561 million (AU$898.3 million) at a price per coin of US$106,662 (AU$170,799).
This brings the total price of all MSTR-acquired Bitcoin to US$27.7 billion (AU$22.4 billion) with a per-coin price of US$62,257 (AU$99,690).
Since Saylor’s purchase, the price of BTC has dropped well below the US$106k mark, currently trading for US$95,179 (AU$152,396). That’s a 10% decline over the past week.
For Saylor, an average price like this is not a problem though, he believes it’s an actual bargain. During a recent podcast on the topic of Bitcoin, Saylor said that he firmly believes that Bitcoin will grow “from 0.1% of the money in the world to 7% of the money in the world over the next 21 years”.
Which means “you should just go long and keep buying it”, no matter the price.
A ¥9.5 billion Bitcoin Purchase
This is exactly what the company dubbed the MicroStrategy of the East, Metaplanet, has been doing.
The Tokyo Stock Exchange-traded company has just added another 619.7 Bitcoin valued at approx. ¥9.5 billion (AU$96.8 million).
Related: Crypto Giants Rally Behind Trump, Pledge Millions to Inaugural Festivities
Metaplanet now holds 1,761.98 BTC, bought at a total cost of ¥20.8 billion (AU$213 million) or ¥11,846,002 (AU$120,637) per BTC on average.
Saylor would possibly call that a steal, as he believes that Bitcoin will go to US$13 million (AU$20.8 million) per coin.
Every Bitcoin you don’t buy is gonna cost you $13 million, my friend.
Michael SaylorOnly time will tell if Saylor’s predictions will come true, in which case the current volatility will be nothing but a blip on Bitcoin’s march to becoming a global asset.
Merry Christmas and Happy Holidays!
Credit: Source link
