MicroStrategy Buys 12,000 More Bitcoin, Says Bitcoin Will Replace Gold as Top Store of Value

Bitcoin is going to "eat" gold because it has all the positives of gold like store of value but none of the negatives like difficult to transport, according to Michael Saylor.

Saylor's company MicroStrategy just bought another 12,000 bitcoin, now owning about 205,000 tokens worth over $14 billion.

MicroStrategy has pivoted to become a bitcoin-buying operation since 2020.

Bitcoin recently surged above $72,000 for the first time as demand rises amid new bitcoin ETF approvals and pre-halving hype.

JPMorgan said bitcoin already makes up a larger allocation in investor portfolios than gold on a volume-adjusted basis at current prices.