Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys...
Coinbase, Three Arrows Capital and MicroStrategy headline the latest business news from the world of blockchain. Coinbase has long been considered an important bellwether of the cryptocurrency market. Last year, when the company was expanding its workforce, adding institutional clients and issuing stock, crypto prices were hitting record highs. Now, in the depths of crypto winter, Coinbase finds itself slashing a fifth of its workforce, losing retail trading volume and contending with downgrades of its credit and stock.This week’s Crypto Biz dissects Goldman Sachs’ latest downgrade of....
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Strategy has bought 15,355 Bitcoin tokens at a cost of $1.42 billion, its second huge acquisition in two straight weeks. The executive chairman of the company, Michael Saylor, revealed the acquisition via social media Monday. The move further solidifies Strategy as the biggest corporate holder of the cryptocurrency, with its current holding now standing at […]
Michael Saylor’s Strategy has just announced a new Bitcoin purchase, suggesting the price dip hasn’t stopped the company from buying more. Strategy Has Made A Fresh Addition To Its Bitcoin Treasury As announced by Strategy chairman Michael Saylor in a new post on X, the company has completed a new Bitcoin acquisition involving 3,018 BTC. […]
MicroStrategy CEO Michael Saylor announced that the firm purchased an additional 5,050 bitcoin for about $242.9 million in cash during the third quarter period.
CEO Michael Saylor bought the coins for an average price of $31,808.
According to posts from Michael Saylor, Strategy’s regular run of Bitcoin buys will pause this week. He told followers there would be “no new orange dots this week,” and used the break to point to the size of the firm’s holdings — now worth $79.03 billion. Related Reading: Blockchain Earnings Take A Dip — 16% […]