As a seasoned researcher with a decade-long focus on digital currencies, I find myself continually impressed by the relentless pursuit of Bitcoin by industry pioneers like Michael Saylor and his team at MicroStrategy. Their latest acquisition of 18,300 BTC is yet another bold move that underscores their conviction in the long-term value of this disruptive technology.
Erik Voorhees, an early Bitcoin pioneer known for founding Shapeshift and more recently Venice AI, has shared his thoughts on the latest major Bitcoin acquisition by MicroStrategy, as reported by Michael Saylor’s corporation, via a post on the X platform.
This week, the company’s executive chairman revealed a significant purchase of more Bitcoin, exceeding all acquisitions made this year by the same company. Besides Voorhees, renowned Bitcoin enthusiast Max Keiser also commended Saylor on this BTC purchase.
Erik Voorhees compliments MicroStrategy’s Bitcoin purchase
In simpler terms, MicroStrategy was praised by Voorhees for their recent purchase of 18,300 Bitcoin, which cost them approximately $1.1 billion.
The company acquired their Bitcoins for around $60,408 each on average. Currently, they possess approximately 244,800 Bitcoins, which equates to a total value of over fourteen billion six hundred and sixty-two million dollars.
Voorhees referred to this acquisition as a “confident step,” emphasizing that the worth of Bitcoin is on an upward trajectory, with MicroStrategy persisting in its mission to hoard BTC. Much like other Bitcoin enthusiasts, Voorhees contends that the U.S. dollar is depreciating at a rapid pace due to recent rounds of money printing by the U.S. government and the escalating national debt of the nation.
Regarding the recent purchase, he tweeted: “Exchanged a frequently devalued item for a rare one.
Sell continually debased asset for scarce asset
Bold move
— Erik Voorhees (@ErikVoorhees) September 14, 2024
Bitcoin advocate and presidential advisor on digital currency for El Salvador, Max Keiser, has also commended Michael Saylor and MicroStrategy for enhancing their investment in Bitcoin.
EMPLOYEE OF THE MONTH
— Max Keiser (@maxkeiser) September 13, 2024
$10 million per Saylor and Hal Finney in future
This week, Michael Saylor appeared on CNBC’s Squawk Box to talk about Bitcoin with the hosts. During the conversation, he mentioned that due to MicroStrategy’s Bitcoin strategy implemented four years ago, the company is now leading all other companies within the S&P 500 index in terms of share price growth.
Additionally, Saylor expressed optimistic forecasts, stating that over the next two decades, a single Bitcoin could potentially reach a staggering $10 million.
Significantly, it’s worth mentioning that a comparable forecast was shared by the late cypherpunk pioneer Hal Finney in 2009. He was the recipient of the first-ever Bitcoin transaction from the enigmatic figure known as Satoshi Nakamoto.
Within the Bitcoin community, it’s widely speculated that Hal Finney was actually Satoshi Nakamoto, the creator of Bitcoin. In a post on a Bitcoin forum, Finney himself suggested that if Bitcoin were to become the predominant payment system, it’s possible that each of its 21 million coins could be worth approximately $10 million.
Read More
- SOL PREDICTION. SOL cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD COP PREDICTION
- TON PREDICTION. TON cryptocurrency
- USD PHP PREDICTION
- USD ZAR PREDICTION
- Top gainers and losers
- ENA PREDICTION. ENA cryptocurrency
- EUR AUD PREDICTION
2024-09-14 14:58