money.nikaniku.com – Crypto Price Drops, Microstrategy Buys Bitcoin IDR 148.6 Billion. Nasdaq-listed software company Microstrategy resumed buying as bitcoin prices fell. In a Wednesday (29/6/2022) filing with the US Securities and Exchange Commission (SEC), the company said during the period between May 3 and June 28, it acquired approximately 480 bitcoins for USD 10 million in cash.
The purchases were made at an average price of around USD 20,817 per bitcoin, including fees and expenses. As of June 28, 2022, Microstrategy, along with its subsidiaries, owns a total of approximately 129,699 bitcoins.
According to the report, overall, the company’s BTC was acquired with an aggregate purchase price of approximately USD 3.98 billion and an average purchase price of approximately USD 30,664 per bitcoin, including fees and expenses.
Lately, in the midst of the decline in the crypto market, many people have warned about the risks that might befall Microstrategy. The company, however, recently dispelled rumors of facing a margin call on a bitcoin-backed loan from Silvergate Bank.
Microstrategy CEO Michael Saylor said in May his company is in Bitcoin for the long term.
Follow SEC Chair’s Statement
“Our strategy is to buy bitcoins and hold bitcoins, so there is no price target. I wish we would buy bitcoin at local top forever. I hope bitcoin will reach millions. So, we are very patient. We think this is the future of money,” said Saylor, quoted from Bitcoin.com, Thursday (30/6/2022).
Microstrategy’s latest bitcoin purchase announcement follows SEC Chairman Gary Gensler’s statement clarifying bitcoin is a commodity. After the clarification, Saylor tweeted in response.
“Bitcoin is a commodity, which is important for the treasury reserve asset. It enables politicians, agencies, governments and institutions to support bitcoin as a technology and digital asset to grow the economy and expand property rights and freedoms for all,” Saylor tweeted.
By calling bitcoin, as a commodity, the digital asset will come under the purview of the Commodity Futures Trading Commission (CFTC).
Crypto Prices Thursday Morning 30 June 2022
Previously, towards the end of June 2022, the price of Bitcoin and the top cryptocurrencies were observed to experience a compact price movement on Thursday (30/6/2022) morning. The majority of the top-tier cryptocurrencies are still stuck in the red.
Bitcoin (BTC)
Based on data from Coinmarketcap, Thursday morning, June 30, 2022, the cryptocurrency with the largest market capitalization, Bitcoin (BTC) fell 0.60 percent percent in 24 hours, but still gained 1.41 percent in the week.
Currently, the price of bitcoin is at the level of USD 20,253 per coin or equivalent to IDR 301.1 million (assuming an exchange rate of IDR 14,868 per US dollar).
Ethereum (ETH)
Ethereum (ETH) is also still sinking this morning. Over the past 24 hours, ETH has fallen 4.16 percent, but is still up 5.39 percent for the week. With that said, ETH is currently at USD 1,114 per coin.
Binance coin (BNB)
The next cryptocurrency, Binance coin (BNB) is also stuck in the red zone. In the last 24 hours BNB weakened 4.21 percent. But BNB still strengthened 3.18 percent a week. That makes BNB priced at USD 221.60 per coin.
Other Crypto Prices
Cardano (ADA)
Then Cardano (ADA) this morning should still be corrected. In the last one day ADA fell 1.35 percent, but still rose slightly 1.82 percent a week. Thus, ADA is at USD 0.4698 per coin.
Solana (SOL)
Meanwhile, Solana (SOL) is still in a slump. Throughout the last one day SOL weakened 4.91 percent and 1.32 percent for the week. Currently, the price of SOL is at the level of USD 34.25 per coin.
XRP remains weak this morning. XRP is down 3.03 percent in the last 24 hours, but is still up 2.72 percent in the week. That way, XRP is now priced at USD 0.3324 per coin.
Tether (USDT)
Stablecoin Tether (USDT) and USD coin (USDC), both strengthened 0.01 percent today. This makes USDT at the level of USD 0.9989 and USDC valued at USD 1.00.
USD (BUSD)
While Binance USD (BUSD) weakened 0.01 percent in the last 24 hours, but the price is still holding at the level of USD 1.00.
As for the overall crypto market capitalization, it weakened quite a lot today at the level of USD 904.1 billion from the previous day at the level of USD 917.1 billion.
