MicroStrategy add $242 million Bitcoin to stash

MicroStrategy add $242 million Bitcoin to stash

MicroStrategy, a business intelligence firm and corporate Bitcoin whale, announced on Monday that it had acquired an additional 5,050 BTC for about $242.9 million.

Following its latest purchase, MicroStrategy has now bought 8,957 in the third quarter of 2021 (approximately $419 million). Recall that in August, the US-based NASDAQ-listed firm purchased 3,907 BTC at an average price of $45,294 per BTC in August. In total the company’s Bitcoin stash has grown to roughly $5.1 billion at an average buying price is $27,713 per BTC.

Meanwhile, as of press time, Bitcoin was trading close to $45,000 on several exchange platforms. The flagship cryptocurrency has dropped by 3.7% in the last 24 hours and 14.1% over the past seven days.

MicroStrategy’s disclosure comes a few days after El Salvador announced a 150 BTC purchase ahead of the full implementation of El Salvador’s Bitcoin Law.

Read more

72nd Reason For National Bitcoin Reserve: Crypto-Based Scholarships Modernize Education Funding

72nd Reason For National Bitcoin Reserve: Crypto-Based Scholarships Modernize Education Funding

Educational institutions worldwide are beginning to allocate scholarships and grants in Bitcoin, revealing practical applications beyond traditional reserve assets. Such programs reduce transaction costs compared to fiat-based international scholarships, provide enhanced accountability through blockchain verification, and help students develop digital finance skills. National Bitcoin reserves could supply the necessary cryptocurrency

By Albert Morgan