The largest publicly-traded bitcoin (EXANTE: Bitcoin) hodler, MicroStrategy Inc., has invested an additional $414.4 million in the cryptocurrency. According to a regulatory filing, with the last purchase of 7,002 bitcoins at an average price of $59,187 per BTC, the company hodls a total sum of 121,044 BTCs (~$7 billion as of press time).
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As iHodl earlier reported, the company bought nearly 9,000 BTC during the third quarter of the year. Earlier this year, MicroStrategy CEO, Michael Saylor, suggested that bitcoin will replace all gold exchange-traded funds over the next two-to-three years.
"To do that, you need the [bitcoin] spot ETF. And once these spot ETFs roll, I think you will see billions, then tens of billions, then hundreds of billions, then trillions of dollars flow into them," Saylor said.
In January this year, the MicroStrategy CEO also said that investing in the cryptocurrency is more profitable than investing in early-stage tech stocks. According to the MicroStrategy CEO, large amounts of money are arriving to the cryptocurrency market from traditional ones such as forex, stocks and bonds.
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