Business intelligence firm MicroStrategy has spent a further $10 million on Bitcoin, according to an announcement today.
The firm has purchased 295 more Bitcoin, bringing its total holdings to 71,079. The average price it paid for this Bitcoin was $16,109.
MicroStrategy has purchased approximately 295 bitcoins for $10.0 million in cash, at an average price of ~ $33,808 per #bitcoin. We now #hodl ~ 71,079 bitcoins acquired for $1.145 billion at average price of ~ $16,109 per bitcoin.https://t.co/lmj3QCgKbw
MicroStrategy has now spent a total of $1.145 billion on buying Bitcoin, as part of its treasury investment policy. It now owns around $2.5 billion in Bitcoin.
In August, MicroStrategy announced the purchase of 21,454 Bitcoin, at a price of $250 million. The firm’s acquisitions are directly in line with its investment strategy, which describes Bitcoin as a superior asset class.
Dogecoin is the crypto joke that just keeps on giving. The latest twist in its comical history is its adoption by a virtual tour bus of celebrities, who are intent on taking it to the moon.
It’s ironic because Dogecoin—or “the dog stocks,” as Internet celebrity Mia Khalifa calls it—was invented as a riposte to Bitcoin; it was meant as a send-up of the full-on madness of the cryptocurrency industry, where hype is a common denominator, and memes rule.
Dogecoin is based on the Shiba Inu breed. Im...
In December, the firm completed a $650 million raise in order to buy more Bitcoin, which it did. This marked its second big purchase.
Bitcoin's price has been on a tear lately. Image: Shutterstock.
Now it looks as though its making more, smaller purchases on an ongoing basis. On January 22, it dropped $10 million into Bitcoin, buying another 314 coins, before doing the same again today, although at a slightly higher rate.
MicroStrategy CEO Michael Saylor tweeted earlier today, "My formula for success is rise early, work late, and buy #bitcoin." Looks like he wasn't kidding.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Smoke from Nicaraguan cigars choked out the room as a heavy-set Bitcoin miner from the Deep South explained how the industry was expanding at an exponential rate.
"You have no idea," he said at this year's Mining Disrupt pre-party in Fort Lauderdale, Florida, before following up with the common Bitcoiner maxim—repeated by President Trump on the campaign trail—that you should never sell your stash.
Having been involved in the space since the early days, he recalled buying a Ferrari with orange c...
Elon Musk’s favorite cryptocurrency made a comeback at the end of last year as retail investors flooded back into the market to snap up Dogecoin. The coin was launched as a joke in 2013, but has persisted over the years and remained prominent.
But just how serious is the business of mining the O.G. meme coin? People are actively buying the machines to do so, according to vendors at this year’s Mining Disrupt conference in Fort Lauderdale, Florida.
Though the conference was heavily focused on th...
Banks can engage in cryptocurrency and other legally permitted activities without seeking prior regulatory approval, so long as they manage risks appropriately, The Federal Deposit Insurance Corporation announced Friday.
The policy change rescinds a 2022 requirement that mandated FDIC-supervised institutions notify the agency before engaging in crypto-related activities. Under the new guidance, banks can offer services involving digital assets without the agency's advance permission.
"With today...