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Reporting on Fintech, Bitcoin, Ethereum, Blockchain and Cryptocurrency News in Nigeria

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Microstrategy Buys More 7000 Bitcoin.

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MicroStrategy has purchased more bitcoin in it’s bitcoin buying spree following the recent market crash, doubling its bitcoin holdings in the final quarter this year and now owns 121,044 bitcoins worth about $3.6 billion.

Viewing bitcoin as an asset rather than as a currency also makes life easier from a regulatory perspective. “All of these regulations … they’re really regulations restraining your use of a digital asset as a currency rather than as a property,” Saylor said, adding that if you acknowledge that, it’s easy to see that the future of the industry is “quite bright.”

Saylor also addressed the issue of inflation, saying that bitcoin would provide the best hedge against inflation.

“There’s going to be volatility, but it seems to me that now we have universal acknowledgment that the world needs an inflation hedge,” he said. “So if you have bitcoin, don’t sell it.”

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