Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoin as It Nears the All-Time High
Business analytics firm MicroStrategy has made yet another large bitcoin (BTC, -0.15%) purchase, buying a further $15 million worth.
- MicroStrategy announced Friday it purchased approximately 262 more BTC at an average price per coin of $57,146, just a little over $1,000 away from the cryptocurrency’s all-time high.
- This latest purchase brings the firm’s total bitcoin holdings to around 91,326, bought for an average of $24,214 apiece.
- At the time of writing, this is equal to around $5.1 billion, compared to the approximate $2.21 billion MicroStrategy paid for them.
- The company’s share price has partly recovered from a month-long downturn, which saw it dip as low as $547.40 on March 5.
- MicroStrategy stock was listed at $763 in pre-market trading today and stands at $803.75 at press time.
Recommended News
-
Why Bitcoin Is More Like a $100 Bill Than Gold
This week, two developments point toward continued interest in bitcoin as a medium of exchange, the reason the “commerce on the internet” meme may be more accurate than the “digital gold” narrative. One of the developments is the debut of a service allowing use of Lightning – a protocol built to scale transactions on the Bitcoin blockchain – for payments with online merchants that use the Visa network. The company behind the service is called Moon, and it uses a similar mechanism to that used by other bitcoin commerce startups, such as Fold. The…
03/12/2021 -
What Is BitClout? The Social Media Experiment Sparking Controversy on Twitter
Prominent users of Crypto Twitter have suddenly discovered they have another profile on a new social network called BitClout, except over there some people are buying and selling tokens representing their identities. It does not matter whether the people behind those profiles have ever touched the social network. “The core insight behind BitClout is that if you can mix speculation and content together, you can not only get a 10x product that creates innovative ways for creators to monetize, but you also get a new business model that’s not ad-driven…
Business 03/23/2021 -
FFIL will help Filecoin grow in distributed storage in the multi-chain era
Up to now, the blockchain industry has formed a new technological revolution, in which the concept of distributed ledger has been comprehensively upgraded and optimized, and distributed digital storage has begun to be applied. Filecoin’s mission is to create a distributed, efficient, and powerful infrastructure for social information storage. We believe that humanity’s most valuable resource is information, and Filecoin is passionate about storing and protecting this valuable resource with efficient pricing, distribution, and protection. The launch of IPFS network also started the wave of distributed storage, in which FIL,…
05/06/2021 -
In order to build the Mobius ring planet, Baidu Xirang will soon issue XR, the token of Xirang.
The direction of Baidu Xirang’s efforts is to become a metaverse engine, providing AI and cloud computing capabilities for Xirang and other metaverse products, and the token XR (1 billion pieces) will be issued soon. Metaverse’s real-time high-brush immersive experience screen effects and multi-person interactions in the same space require massive computing power, algorithm support, and a lot of R&D investment. Therefore, technical strength will become a key part of future Metaverse competition. Baidu has maintained high-intensity R&D investment for a long time. XR will become the only token in…
Business 01/15/2022 -
Ripple Acquires 40% Stake in Asia Cross Border Payments Firm Tranglo
Cryptocurrency company Ripple has acquired a large stake in an Asia-based cross-border payments specialist in order to meet the growing customer demand. Ripple said Tuesday that it has agreed to acquire a 40% stake in Tranglo for the purpose of expanding its RippleNet On-Demand Liquidity service, according to a press release. Tranglo is a cross-border money and prepaid credit transaction hub providing businesses and individuals the ability to transfer payments globally, according to its website. Southeast Asia’s payments landscape is “highly fragmented,” Ripple said in the release. Each country possesses its…
03/29/2021 -
Why Bitcoin Is a Better Risk Bet Than a Stack of Penny Stocks
Bitcoin is getting boring at a time when annualized 30-day volatility as of Thursday’s close has seen a sharp downward dip, in a March with its own type of (weather) volatility. Source: CoinDesk Bitcoin Price Index To emphasize the point, have a look at the chart above, which shows the volatility of bitcoin daily returns for the past month. To be fair, I’m employing a little chart crime here, starting the y axis at 40% in order to accentuate the drop between March 24-25, as all but the last days of February have…
03/26/2021 -
Former US Senator Joins Binance as Policy Adviser and Government Liaison
Cryptocurrency exchange Binance has hired former U.S. senator and ambassador to China Maxwell Baucus as a government relations adviser. The exchange announced Thursday in a press release it had hired the long-term government official to provide guidance and advice to the firm and work with U.S. regulators. The move could signal a shift in Binance’s approach to the U.S. market, which it currently doesn’t serve directly. Baucus was an ambassador to China under former President Barack Obama between 2014 and 2017. Prior to that, he served in the U.S. Senate and…
03/11/2021 -
DeFi Major Aave Working With Polygon to Bypass Ethereum Congestion
Decentralized finance (DeFi) firm Aave is working with Ethereum layer 2 Polygon to address the congestion currently experienced on the second-largest public blockchain. Announced Wednesday, Aave will be exploring scalable sidechains with Polygon (formerly known as Matic) to escape the high transaction fees that currently exist on Ethereum. Aave says it will use a soon-to-be available smart-contract bridge that will seamlessly port assets from one network to the other. The “DeFi Summer” of 2020 has not really slowed down, with close to $43 billion currently locked within DeFi lending platforms. Built…
03/31/2021 -
Bitcoin Transfer Worth $806M Might Reveal Big Institutional Purchase
Digital-asset traders and analysts were scrambling Tuesday to assess a fresh data point extracted from the Bitcoin blockchain: Some $806 million worth of the cryptocurrency apparently transferred earlier in the day off of the Coinbase exchange’s institution-focused unit, Coinbase Pro. The jury is out on what it means. It could be that a large investor or several just completed a fresh round of buying and now are taking the bounty off the exchange for long-term holding or other purposes. Or it might be something else more innocuous, such as an…
03/23/2021 -
Duke University’s Early Coinbase Investment Could Now Be Worth $500M: Sources
The endowment fund of Duke University, the alma mater of Coinbase co-founder Fred Ehrsam, was one of the fortunate few to have made an early investment in the soon-to-list cryptocurrency exchange, CoinDesk has learned. Two people familiar with the matter said the $3.9 billion Duke Endowment was included early on in the cap table of Coinbase, which is expected to command a price tag of around $100 billion when its shares debut on Nasdaq. Those shares are now worth a small fortune, on the order of nine figures, the sources…
Business 03/28/2021