Erik Voorhees Shares Key Insight on MicroStrategy’s Recent Bitcoin Purchase
Erik Voorhees, a prominent figure in the Bitcoin community, recently shared his thoughts on MicroStrategy’s significant Bitcoin purchase. Voorhees, known for founding Spaceshift and Venice AI, took to the X platform to comment on the latest move by Michael Saylor’s MicroStrategy.
MicroStrategy, under the leadership of its executive chairman, made headlines by acquiring a substantial amount of Bitcoin, surpassing its previous purchases this year. Alongside Voorhees, another well-known Bitcoin advocate, Max Keiser, also praised Saylor for the company’s bold move in acquiring more BTC.
In this recent acquisition, MicroStrategy added a staggering 18,300 BTC to its holdings, amounting to a hefty $1.1 billion investment. With an average purchase price of $60,408 per Bitcoin, the company now boasts a total of 244,800 BTC valued at $14,675,662,080.
Voorhees commended MicroStrategy’s decision as a bold move, emphasizing the ongoing appreciation of Bitcoin’s value and the company’s relentless accumulation of the digital asset. Like many others in the Bitcoin community, Voorhees pointed out the devaluation of the U.S. dollar due to extensive money printing and the escalating national debt.
Regarding the purchase, Voorhees expressed his views on Twitter, stating, “Sell continually debased asset for scarce asset.” This sentiment reflects the belief among Bitcoin proponents that investing in a deflationary asset like Bitcoin is a wise strategy in the current economic landscape.
Max Keiser, a Bitcoin maximalist and the official BTC advisor to the president of El Salvador, also lauded Saylor and MicroStrategy for their commitment to Bitcoin. Keiser’s recognition further underscores the growing support for Bitcoin as a valuable asset class.
In a separate development, Michael Saylor appeared on CNBC’s Squawk Box to discuss Bitcoin, highlighting MicroStrategy’s successful BTC strategy implemented four years ago. Saylor expressed optimism about Bitcoin’s future, projecting a potential price of $10 million per coin in the next 21 years.
Interestingly, the late cypherpunk legend Hal Finney had made a similar prediction back in 2009. Finney, who received the first Bitcoin transaction from the mysterious Satoshi Nakamoto, believed that if Bitcoin became the dominant payment system, each coin could eventually reach a value of $10 million.
The convergence of opinions from industry veterans like Saylor, Voorhees, Keiser, and the late Hal Finney underscores the growing confidence in Bitcoin’s long-term potential as a transformative asset class. As the cryptocurrency market continues to evolve, the strategic moves made by companies like MicroStrategy signal a broader trend towards mainstream adoption and recognition of Bitcoin’s intrinsic value.
