In a recent post on X, Michael Saylor announced that MicroStrategy is increasing its Bitcoin reserve to 158,400 BTC.
MicroStrategy, the software company known for its aggressive bet on Bitcoin, has announced the acquisition of an additional 6,067 Bitcoin worth $167 million since the end of the second quarter of 2023. This brings its total Bitcoin reserve to an impressive 158,400 BTC, with a cumulative cost of $4.69 billion, at an average price of $29,586 per coin.
Michael Saylor’s November 1 post on X reads as follows:
“In October, MicroStrategy acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC. Please join us at 5pm ET as we discuss our Q3 2023 financial results and answer questions about the outlook for #BusinessIntelligence and #Bitcoin.”
The company revealed that the newly acquired coins were purchased at an average price of $27,531. Including this latest acquisition, MicroStrategy has continued its Bitcoin accumulation strategy, having purchased 155 BTC for $5.3 million in October, according to Michael Saylor, president of the company.
BitGo Expands Regulatory Compliance in Germany with a License to Operate Bitcoin and Other Cryptocurrencies
Prominent cryptocurrency custody company BitGo has taken a significant step to strengthen its presence in Germany by obtaining a cryptocurrency license from the Federal Financial Supervisory Authority (BaFin). This development, announced on November 1, comes more than three years after BitGo launched its dedicated local subsidiary in the country.
Since 2019, BitGo has been providing storage services for crypto assets, including Bitcoin, under the supervision of BaFin as part of a transition regime. Obtaining the German license represents an important milestone for BitGo and consolidates its position in the European market.
PayPal Receives Subpoena from SEC Regarding Its Stablecoin
Online payments giant PayPal has come under the attention of the United States Securities and Exchange Commission (SEC) regarding its stablecoin pegged to the US dollar. known as PYUSD.
The SEC issued a subpoena to PayPal, requesting the production of certain documents in relation to this cryptocurrency, as disclosed by the company in its third quarter financial report to the SEC, published on November 2.
The subpoena, received by PayPal on November 1, marks the latest development in the growing regulation of cryptocurrencies and stablecoins in the United States. In response to the subpoena, PayPal stated that they are fully cooperating with the SEC in this matter.
UPDATE: Cryptocurrency Platform FTX Mastermind Found Guilty of Seven Counts of Fraud and Conspiracy
Sam Bankman-Fried’s responsibility in seven fraud and conspiracy counts was declared this Thursday in just five hours. The trial was also quick, lasting barely a month, thanks in part to the fact that his three closest collaborators in the company, including his ex-girlfriend and head of the Alameda Research hedge fund, chose to collaborate with justice and testified against the unfortunate guru. of cryptocurrencies.
The verdict reached in Manhattan federal court puts an end to the noisy collapse of FTX. Extradited last November to the United States from the Bahamas, SBF is another example of a disgraced technological king Midas, like Elizabeth Holmes, founder of Theranos. Both share another circumstance, in addition to prison sentences: they decided, against the opinion of their lawyers, to testify in their respective trials to overcome adverse image campaigns, but it did not go well for any of them due to the accumulation of evidence in against.
By Leonardo Pérez
