Microstrategy has purchased 6,455 bitcoins for approximately $150 million at an average price of $23,238 per coin. With its latest purchase, Microstrategy now holds 138,955 bitcoins acquired at an average of $29,817 per coin. Moreover, the company also paid off its loan from troubled Silvergate Bank in full. Microstrategy Buys More Bitcoin Nasdaq-listed Microstrategy Inc.…
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As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. The cache of bitcoins is a result of three forfeitures that began in 2020. Glassnode’s on-chain data reveals that on March 9, about 9,860 bitcoins worth roughly $269 million…
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Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters who insisted that Krugman was now realizing the importance of censorship-resistant payment systems. Krugman’s Experience Highlights the Growing Interest in Censorship-Resistant Payment Systems Nobel Prize…
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MicroStrategy has denied any meaningful exposure to Silvergate as crypto firms who dealt with the crypto bank are rushing for the exits amid concerns about its financial condition. In a recent tweet, business intelligence firm MicroStrategy clarified that their Bitcoin holdings, valued at $2.9 billion and comprising over 130,000 Bitcoin, are not held in custody…
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A D.C. court denied a motion to dismiss claims that Michael Saylor failed to pay personal income taxes, with a status conference on the matter scheduled for March. The Office of the Attorney General for the District of Columbia in the United States is moving forward on a lawsuit against business intelligence firm MicroStrategy executive…
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The bankruptcies of once high-profile crypto players are “painful” but helpful, according to Michael Saylor, but industry oversight is still needed. High-profile crypto bankruptcies and a hearty price crash are necessary evils to help the industry grow, while greater regulation is a must, according to MicroStrategy co-founder Michael Saylor. In a Feb. 3 interview on…
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Michael Saylor, the co-founder and former CEO of MicroStrategy, has addressed Charlie Munger’s criticism of Bitcoin, claiming that he hasn’t taken the time to understand Bitcoin. … Read More: Billionaire Michael Saylor Responds to Charlie Munger’s Criticism of Bitcoin – This is What He Said Read more »Sign up for e-EUR – the progressive stablecoin
Bitcoin (BTC) bull Michael Saylor’s big bet may be about to backfire for his company MicroStrategy, after the firm on Thursday reported a massive loss for the fourth quarter of last year. The net loss for MicroStrategy for the fourth quarter ended up at $249.7m, with the number dragged down significantly by a $197.6m loss…
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The company also booked a loss of $34 million on its first-ever Bitcoin sale last quarter but said it was conducted to harvest a tax loss. Software analytics company MicroStrategy recorded a paper loss of over a billion dollars on its Bitcoin (BTC) holdings in 2022 but says it has no plans to stop trading…
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MicroStrategy’s recent sale of a portion of its Bitcoin treasury holdings puts cryptocurrency tax-loss harvesting into the spotlight. Business intelligence firm MicroStrategy made headlines ahead of New Year’s Eve as the sale of a portion of its Bitcoin (BTC) holdings drew the attention of industry experts and critics. A regulatory filing with the United States…
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