MicroStrategy Buys over $1 Billion BTC
Microstrategy has bought more than $1 billion BTC. They bought 19,452 Bitcoins for an average price of $52,765 per bitcoin. They now have 90,531 Bitcoins at an average price of $23,985.
News
Cryptocurrency news from around the world and beyond. We cover what happening with cryptocurrency today. We cover things like countries embracing or rejecting cryptos, price milestones for Bitcoin and Alts, new projects, upcoming forks, etc.
Square Buys $170 Million BTC
Square bought 3,318 more bitcoins for a total of $170 million. This follows a previous purchase and recent purchases by Microstrategy and Tesla.
Crypto, Tech, Tesla, Etc Curve Down as Rotation Fears Loom
Microstrategy bought, Tesla bought, and we rallied. ETH fees were high, funding was high, longs go squeezed, NASDAQ went down, the yield curve went up, and we crashed.
Robinhood Plans to Offer Send/Receive Function for Crypto
Robinhood clarified in a Tweet yesterday that they intend to offer a more complete crypto experience by offering send/receive functions for their cryptocurrency customers.
ETCG is Flirting with a Negative Premium
ETCG is currently trading at or near a negative premium. This is far from the norm for Grayscale products.
ETH2 Staking is Coming to Coinbase
Coinbase is going to allow staking on ETH2. This is a big deal, as you’ll be able to lock up your ETH and take it on Coinbase for up to 7.5% APR.
Telsa Coverts 10% of its Balance Sheet to Bitcoin
Tesla converted about 10% of its balance sheet to Bitcoin last week, spending a total of $1.5 billion of its roughly $19 billion in cash holdings on Bitcoin.
Coinbase is Going to Go Public Via Direct Listing
Coinbase is forgoing an IPO and will go public via direct listing when it launches. The expected price is $200, putting it at about a $75 billion market cap.
Robinhood Traders Experience Forced Selling (That Doesn’t Happen in Crypto)
In cryptocurrency when a coin pumps the market decides what happens next.
Coinbase to Launch “Coinbase Asset Hub”
Coinbase will launch a new service called “Coinbase Asset Hub.” This is a product that allows asset issuers to list assets and do business with Coinbase.