MicroStrategy Purchases Yet Another $489M Of BTC – June 22

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $31,497

Bitcoin price has stabilized above $31,000 following yesterday’s tumble, as the market appears to be reaching key decision point.

Top-20 altcoins have performed poorly over the last 24 hours, with Ethereum falling 5%, XRP tumbling 15% and Solana dropping a significant 23%.

Top Stories for June 22, 2021 πŸ”₯

πŸ‘‰ MicroStrategy Purchases Yet Another $489M Of BTC

Business intelligence company MicroStrategy has completed its latest purchase of Bitcoin, this time buying more than 13,000 BTC for a total of $489 million.

The purchase comes after MicroStrategy’s recent $500 million offering of secured notes, which are due 2028 with an annual interest rate of 6.125%.

Since it began buying Bitcoin, MicroStrategy has accumulated 105,085 BTC, with an average price of around $26,080 per coin.

πŸ‘‰ Sotheby’s Auction House To Accept BTC & ETH For Diamond Auction

Sotheby’s, the renowned luxury auction house, will be accepting bids in Bitcoin and Ethereum for a 101.38-carat diamond up for auction next month.

Bids of up to HKD$118 million (around USD$15 million) are expected for the stone, whivh would equate to roughly 454 BTC at current market prices.

πŸ‘‰ Digital Currency Group To Purchase $50M In Grayscale’s ETC Trust

Grayscale’s parent company, Digital Currency Group (DCG), has announced that it plans to purchase up to $50 million worth of shares in Grayscale’s Ethereum Classic Trust.

The move by DCG appears to be an arbitrage play, capitalizing on a difference in price between shares in the trust and the market value of the underlying assets. The purchases will be made with cash on hand, on the open market.