XRP Lawyer Reacts to MicroStrategy’s BTC Purchase by U.Today

© Reuters. ‘Saylor Wants More Bitcoin Than Satoshi’: XRP Lawyer Reacts To MicroStrategy’s BTC Purchase

U.Today – As reported yesterday, , led by CEO Michael Saylor, invested a whopping $615.7 million to acquire an additional 14,620 BTC at an average price of $42,110 in December.

Central to this landmark acquisition is Saylor’s ambitious goal, as outlined by renowned evangelist Max Keiser. According to Keiser, who also serves as an advisor to the president of El Salvador, using a hedging strategy between equity and bond issues coupled with strategic purchases positions the company to potentially own 5% of all bitcoins in existence.

This would equate to a monumental 1.05 million BTC.

, a prominent attorney, crypto enthusiast, and attorney for holders, weighed in on Saylor’s ambitious efforts. Deaton expressed that MicroStrategy’s commitment to amassing more Bitcoins than Satoshi is evident.

As an owner of both MicroStrategy and BTC shares, the lawyer highlighted the confidence he has in Saylor’s strategy, noting that he has no complaints as a shareholder despite differing opinions on the “reckless” approach.

Satoshi challenged him

Saylor’s pursuit of excellence is no small feat. Nakamoto, believed 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 risen to 189,150 BTC, worth an impressive 8.15 billions of dollars.

Notably, MicroStrategy’s average purchase price is $31,168, which translates to a remarkable profit of over $2.25 billion at today’s prices.

This article was originally published on U.Today