As became known yesterday, MicroStrategy, led by CEO Michael Saylor, has invested a staggering $615.7 million to acquire an additional 14,620 BTC at an average price of $42,110 in December.
The focal point of this significant acquisition is Saylor’s ambitious goal, as outlined by renowned Bitcoin evangelist Max Keiser. According to Keiser, who also serves as an advisor to the president of El Salvador, the company’s use of a collateral seesaw strategy between stock and debt issuance, coupled with strategic Bitcoin purchases, positions the company to potentially own 5% of all Bitcoin in existence.
This would equate to a monumental 1.05 million BTC.
John Deaton, a prominent lawyer, crypto enthusiast, and legal representative of XRP holders, weighed in on Saylor’s ambitious pursuit. Deaton expressed that MicroStrategy’s commitment to amassing more Bitcoin than Satoshi is evident.
As an owner of both MicroStrategy stocks and BTC, the lawyer highlighted the confidence he has in Saylor’s strategy, noting that, as a shareholder, he has no complaints despite differing opinions on the “reckless” approach.
Satoshi challenged
Saylor’s pursuit of surpassing Satoshi Nakamoto is no small feat. Nakamoto, presumed to be the largest Bitcoin holder with 1.1 million BTC, equivalent to $47.3 billion at current prices, now faces competition from MicroStrategy, whose total Bitcoin holdings have surged to 189,150 BTC, valued at an impressive $8.15 billion.
Notably, MicroStrategy’s average purchase price stands at $31,168, leading to a remarkable profit of over $2.25 billion at today’s prices.
Source: https://u.today/saylor-wants-more-bitcoin-than-satoshi-xrp-lawyer-reacts-to-microstrategys-btc-purchase