U.Today – Erik Voorhees on MicroStrategy’s Bitcoin Acquisition

Erik Voorhees, a Bitcoin OG who founded Spaceshift and recently Venice AI, has commented on the significant Bitcoin purchase announced by Michael Saylor’s MicroStrategy.

Earlier this week, the company’s executive chairman announced the acquisition of another sizeable Bitcoin chunk that greatly surpassed previous purchases made this year. Alongside Voorhees, another prominent figure in the Bitcoin community, Max Keiser, praised Saylor for the BTC acquisition.

Voorhees Compliments MicroStrategy’s Bitcoin Purchase

Voorhees praised MicroStrategy’s recent acquisition of a staggering 18,300 BTC, which cost the company an impressive $1.1 billion. The purchase was made at an average price of $60,408 per Bitcoin, bringing MicroStrategy’s total holdings to 244,800 BTC, valued at approximately $14.68 billion.

He described this move as a “bold strategy,” highlighting the increasing value of Bitcoin and MicroStrategy’s ongoing commitment to accumulating BTC. Voorhees noted the declining value of the U.S. dollar due to extensive cash printing and rising national debt. He tweeted, “Sell continually debased asset for scarce asset.”

Bitcoin maximalist Max Keiser, who serves as an official BTC advisor to El Salvador’s president Nayib Bukele, also commended Saylor’s move to deepen MicroStrategy’s investment in Bitcoin.

$10 Million per Saylor and Hal Finney in Future

In an appearance on CNBC’s Squawk Box, Michael Saylor discussed Bitcoin and noted that MicroStrategy’s BTC strategy, initiated four years ago, has led to outsized performance relative to other S&P 500 companies.

Saylor expressed optimism about Bitcoin’s future value, predicting that in 21 years, Bitcoin could reach $10 million per coin. This prediction mirrors a statement made by the late Hal Finney, a significant figure in Bitcoin’s history, who suggested that if Bitcoin becomes the dominant payment system, each of its 21 million coins could attain a price of $10 million.

This article was originally published on U.Today.