MicroStrategy Gobbles Up Bitcoin Worth $623,000,000, Now Holds Over 1% of the BTC That Will Ever Exist

“I’ve famously said I’m going to be buying the top forever. Bitcoin is the exit strategy. It is the strongest asset. So what we see right now is that Bitcoin has just emerged as a trillion-dollar asset class. And it’s alongside names like Apple and Google and Microsoft.

But the difference between Bitcoin and the Magnificent Seven is Bitcoin is an asset class, it’s not a company. There’s not enough room in the capital structure of those companies to hold $10 trillion or $100 trillion worth of capital.

So Bitcoin is competing against gold, which is 10x what it is right now. It’s competing against the S&P Index. It is competing against real estate, a $100 trillion-plus asset class, as a store of value. So we believe capital is going to keep flowing from those asset classes into Bitcoin because Bitcoin is technically superior to those asset classes. And that being the case there’s just no reason to sell the winner to buy the losers.”

Bitcoin itself is up more than 8% in the past 24 hours after dipping in price on Tuesday. The top crypto asset by market cap set a new all-time high of $73,737.94 last Thursday.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.