Binance CEO hails MicroStrategy’s move to buy Bitcoin by CoinEdition


© Reuters. Binance CEO Praises MicroStrategy’s Move to Buy Bitcoin
  • Binance CEO applauds MicroStrategy’s decision to buy more.
  • MicroStrategy bought 301 additional BTC tokens for $6 million.
  • The public company now owns 130,000 bitcoins acquired for $3.98 billion.

Changpeng Zhao, CEO of the largest cryptocurrency exchange Binance, praised MicroStrategy for sharing their posts about buying more Bitcoin.

MicroStrategy President and CEO of MicroStrategy, Michael Saylor, announced that his company has purchased 301 BTC for about $6 million, averaging $19,851 each. The company has 130,000 BTC as crypto stock, thus becoming the only public company with this huge amount of BTC.

The SEC confirmed that the purchase took place between August 2 and September 19.

Galaxy Digital Holdings competes with MicroStrategy as the second publicly listed company to hold so many Bitcoins. According to its balance sheet, the company currently owns 40,000 BTC.

In the private sector, Mt Gox also holds a large number of BTC, around 141,686. However, in light of Mt Gox’s bankruptcy trial, it was reported that the trustees would distribute their assets to creditors.

In addition, another private company that holds the largest number of BTC is Bitcoin treasury statistics reveal that currently owns approximately 140,000 BTC.

Crypto winter has become an ideal opportunity for investors to buy virtual assets. In the past four weeks, the world’s largest cryptocurrency, Bitcoin, has fallen by 10% and is down 60%.

While rising inflation and interest rates threaten the cryptocurrency markets, companies like Binance Labs are also looking to invest in an early web3.0 project that will yield high value returns in the future.

The CEO of Binance has praised MicroStrategy’s move to buy Bitcoin that debuted in the Coin Edition.

See the original on CoinEdition


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