Crypto News Digest
MicroStrategy, a leading business intelligence firm, made headlines yesterday with a massive Bitcoin purchase announcement by CEO Michael Saylor. The company acquired a staggering 11,931 BTC worth $786 million, with an average price per coin of $65,883. This purchase brings MicroStrategy’s total Bitcoin holdings to 226,331 BTC, solidifying its position as the largest corporate holder of the digital asset.
The funding for this significant acquisition was provided by MicroStrategy’s recent debt sale, following the completion of an $800 million convertible note offering. Despite the massive size of the purchase, the market reaction was relatively muted, as the news was largely anticipated after MicroStrategy upsized its debt sale last week.
In other news, the Shiba Inu project’s team lead unveiled an unexpected development with the announcement of a new SHIB game called Shibarium. The game, currently in late development stages, will be licensed exclusively to the decentralized team at Shiba Inu for use on Shibarium. The mobile version of the game may also incorporate decentralized elements in the future, with the aim of adding value to the ecosystem’s core tokens, SHIB, LEASH, and BONE. Revenue from in-app game purchases will incentivize the burning of SHIB and LEASH tokens.
Additionally, a recent report from Santiment brought good news to XRP and ADA communities, highlighting heavy trader shorting after recent price bounces. This shorting activity is seen as potential “rocket fuel” for continuous price rises, indicating a positive sign for potential bulls. XRP and ADA currently hold the seventh and tenth positions on CoinMarketCap’s top 10 list of cryptocurrencies, trading at $0.4838 and $0.3797, with market capitalizations of $26,886,410,927 and $13,552,171,536 respectively.
Overall, these developments in the crypto space continue to shape the industry landscape, with companies like MicroStrategy making significant moves in the Bitcoin market, and projects like Shiba Inu innovating with new gaming initiatives. Stay tuned to U.Today for more updates on the latest crypto news and trends.