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
-
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…
-
Uniswap V3 Introduces New License to Spoil Future SUSHIs
Uniswap has licensed the third iteration of its code bank in an apparent move to ward off would-be copycats. The white paper for v3 of the decentralized exchange (DEX) was released Tuesday. In a possible nod to rival project SushiSwap – which copied Hayden Adams’ creation bit by bit – the Brooklyn, N.Y.-based team’s blog post included one section detailing a “business source license” that acts as a time delay for commercial use of the code “for up to two years.” After that point, the code will remain in an open-source GPL license “into…
-
Bringing ‘Play’ back into the play-to-earn space — Ankots of Misteria
A brand new NFT monster-battler that is looking to change the way games are played in Web3. May 27, 2022 — The rise and widespread adoption of blockchain technology has led to some of the most barrier-breaking advancements in recent years. One of the standout examples of this came with the introduction of the Play-to-Earn gaming space which completely transformed the gaming industry for good, or so it was thought—until it was not. The tokenized economic model that was the promise of play-to-earn games worked extremely well in theory; players…
-
Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July
One of the most significant and contentious alterations to the Ethereum blockchain in recent memory is now scheduled for inclusion into its codebase. Ethereum Improvement Proposal (EIP) 1559 will be packaged with the London hard fork this coming July regardless of the mining industry’s discontent with the proposal, according to the All Core Developers call Friday. At least five other EIPs are likely to join EIP 1559 in London. EIP 1559 flips a typical blockchain transaction on its head in order to fix numerous issues with Ethereum’s user experience. Traditionally, a user sends a gas…
-
Ether Trailing Bitcoin Since CME Futures Launch: Technical Analysis
The outperformance of ether (ETH) over the past year relative to bitcoin (BTC) appears to have reversed since the Chicago-based commodities exchange CME launched its new ether futures contract in early February, an analysis of chart patterns shows. ETH put in a relative bottom versus BTC around the end of 2019. The near 700% increase in ETH versus BTC’s 500% rise over the past year could reflect investor enthusiasm for decentralized finance (DeFi), which seeks to transform traditional financial products in a decentralized manner and largely sits atop the Ethereum blockchain. ETH has underperformed…
-
BTDA has drawn a new generation of storage blueprints
With the rapid development of mobile Internet, 5G, Internet of Things, artificial intelligence and other technologies, data has exploded, and countless data are continuously generated, collected and processed everywhere. Accordingly, the markets of cloud storage, cloud computing and distributed edge computing are growing rapidly. Market reports from IDC, GrandView, Garnter and other institutions have clearly described this trend. On April 20, 2020, the National Development and Reform Commission held a press conference. The new infrastructure mainly includes three aspects, namely, information infrastructure, converged infrastructure and innovative infrastructure. Among them, data…
-
Big news for the crypto trading space: CoinW announces all spot trading – free of charge
On July 13, 2022, CoinW made another major upgrade, announcing that all users of CoinW will not be charged transaction fees when trading in all spot currencies. Zero fees! This is another major breakthrough, after the official announcement on July 5 , by leading Crypto Exchange, that all BTC transactions, will be free of charge. This is not only the first platform in the network to adopt 0 transaction fee for spot trading, but also a long-awaited benefit for platform users. As we all know, exchanges can provide investors with…
-
Staking as an Asset Class? This Swiss Institutional Fund Is Jumping In
While institutional investors around the world are just getting their heads around bitcoin (BTC, -1.43%), asset managers in crypto-friendly Switzerland are heading into staking on next-generation blockchain networks. Announced Friday, Zurich-based investment firm Tavis Digital has partnered with Singapore-based Persistence, a bridge for traditional firms into undiscovered realms such as token staking and decentralized finance (DeFi). Tavis Digital is a spin-off of Tavis Capital, an asset manager regulated by the Swiss Financial Market Supervisory Authority (FINMA) with about $1.07 billion in assets under management. Nimble and financially sophisticated countries like Switzerland and…
-
Light the torch of Revolution: KHC reshapes the future of decentralized Finance
Finance. Just as the name implies, it is financing of funds. It’s an optimization method to reallocate assets across time and space after the evaluation of risk and credit, so as to achieve higher returns. Traditional financial institutions, through credit responsibility, enable funds to flow freely around the world. In addition, it also gains huge profits from aggregating user information and monopolizing users’ daily life such as clothing, food, housing and transportation. However, traditional financial institutions exist obvious pain point, including high payment fees, low efficiency and high cost of cross border…
-
Coinbase, Naval, Framework Ventures Back $19M Raise for a Capital-Efficient Stablecoin
Fei Labs, a project building a more capital-efficient decentralized stablecoin, raised $19 million from Andreessen Horowitz (a16z), Framework Ventures, Coinbase Ventures and AngelList founder Naval Ravikant, among others. The raise, disclosed Monday, is another sign competition is heating up among issuers of stablecoins. These cryptocurrencies are designed to hold their value against some mainstream asset, usually (as in Fei’s case) the U.S. dollar. Stablecoins play a linchpin role in the crypto ecosystem, allowing traders to quickly move fiat currency (or the next best thing) between global exchanges to take advantage of…
