 ‘Buying the top forever’ — MicroStrategy bags 21.5K Bitcoin at peak prices 
2024-12-09

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.
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.
“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.
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.
This is a developing story, and further information will be added as it becomes available.