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
-
The EAFF E-1 Football Championship 2022 Begins. CoinW writes a new chapter of sports event cooperation.
On July 19 at 15:00 Beijing time, along with the opening of the Korea Women’s Football Team vs. Japan Women’s football match, the EAFF E-1 Football Championship 2022 was officially begun. In the next 9 days, a total of 12 matches, male and female soccer players from China, Korea, Japan, Hong Kong, China, and Taiwan will bring a feast of soccer to fans in Asia and around the world. It is worth mentioning that leading digital asset exchang, CoinW debuted in the EAFF E-1 Football Championship 2022 for the firsttime. According to…
-
A new track is taking shape Who can be the leader in password authentication
Two days ago, the breakdown of the Bill and Melinda Gates’ marital relationship and the impending division of their assets over a whopping $130 billion received a great deal of attention in the country. Bill Gates has publicly sung the praises of Bitcoin and his comments have been quoted and reposted by the insider media on numerous occasions, so the divorce news has created an equally big storm among the blockchain community. However, I am more concerned with issues that are of practical relevance to us than the news of…
-
US Senate Approves $1.9T Stimulus Plan; Measure Now Returns to the House
The Senate passed President Joe Biden’s $1.9 trillion Covid 19 relief package Saturday, a possible positive development for cryptocurrencies. The measure, which was passed by a 50-49 party-line vote, now heads back to the House, which would have to approve Senate changes to the package before it can head to the president for signing. The House is expected to take up the measure next week, according to The Wall Street Journal. The legislation would provide $300 in weekly unemployment benefits through early September, send $1,400 payments to some Americans and direct…
-
Enterprise Blockchain Doesn’t Work Because It’s About the Real World
Blockchain has come a long way since its 2008 debut as the ingenious technology underlying Bitcoin. Today companies and governments the world over are exploring new applications in which blockchains track, not the flow of digital currency, but things and events in the real world. But this tether to reality is enterprise blockchain’s Achilles heel. To see why, let’s go back to where it all began. When Bitcoin first appeared, a common reaction was: why would anyone exchange their hard-earned dollars for that? The answer, it’s become clear, is that bitcoin…
-
Building the Foundations for the Decentralised Dream of the Web3 Space
The likes of Google and Facebook have dominated the Web2 era, building multi-billion dollar empires and developing powerful influence over the shape of the internet. They have built many of the applications we use in our everyday lives, that has provided convenience, improved efficiency and connections. However, the cost of this “free” technology provided to users is the loss of user control over their data and their share of the upside from use of that data. Addressing these concerns, Web3 has positioned itself as the next evolution of the…
-
Why the NFT Frenzy Won’t Drive Up Prices for Bitcoin Just Yet
The white-hot market for non-fungible tokens has become so big, NFTs are even showing up in the headlines of mainstream publications like the New York Times and on cable news programs. But can the craze have much of an effect on bitcoin (BTC, -0.41%)? Probably not, at least for now. The oldest and largest cryptocurrency, which, at around $57,000, ended a weeklong winning streak Friday, sits at the center of digital-asset markets, accounting for some 62% of the overall industry’s $1.7 trillion market capitalization. So it would stand to reason there might be some spillover…
-
Major Australian ‘Buy Now Pay Later’ Firm May Offer Crypto Trading: Report
One of Australia’s largest buy now, pay later companies is reportedly looking at a move into stock and cryptocurrency trading. According to a report by the Wall Street Journal on Tuesday, Zip Co.’s co-founder Peter Gray said his company was looking at providing trading services through its native app in a bid to further engage its typically young consumers. The co-founder did not specify when the offering would launch or whether services for stocks would be released before cryptocurrency. Instead Gray suggested Zip would first roll out the services to its U.S….
-
Tether on Tron Blockchain Hits $24B, Surpassing Ethereum Amid Explosive Stablecoin Demand
There’s now more of the dollar-linked stablecoin tether (USDT, +0.02%) on the Tron blockchain than on Ethereum, data from Coin Metrics shows, possibly a sign that crypto traders are favoring the network’s lower transaction fees. Source: Coin Metrics As of April 14, the total market capitalization of tether (USDT) on Tron was $24 billion, versus $23.4 billion on Ethereum. “As the popularity and adoption of cryptocurrency and blockchain continue to grow, we expect USDT to continue to explode in popularity” Justin Sun, founder of Tron and CEO of BitTorrent, said in a press release….
-
McLaren Partners With Turkish Crypto Firm to Launch Formula 1 Fan Token
McLaren, the legendary Formula 1 auto racing team, has entered into a long-term partnership with Turkish crypto firm Bitci.com to create an official fan token for the team. The U.K.-based McLaren will launch its fan token – which it says is the first of its kind in Formula 1 racing – through the new partnership. Bitci.com will also become an official partner of the racing team, according to Wednesday’s announcement. Bitci.com is a Turkish cryptocurrency exchange with around $50 million in 24-hour traded volume. McLaren joins other prominent sports teams that have launched fan tokens….
-
KHC — a new generation of high performance private financial public chain has officially launched
With the appearance of blockchain technology, services in the financial industry have made great progress. The blockchain brings extra vim to the cryptocurrency industry, and the emergence of DeFi on the blockchain has empowered more projects in the industry. From 2019 to 2020, the DeFi market has developed rapidly from nothing. Only one year later, the total lock-up volume of DeFi in 2020-2021 has approached $100 billion, rising more than 240 times. The popularity and drawbacks of DeFi DeFi is so popular which has become one of the hottest topics in the crypto…
