Today In Crypto: MicroStrategy to Buy ~$635 M Worth of Bitcoin | $200 M Tether [USDT] Minted | SBI Acquires Crypto Exchange B2C2
Its never a boring day in cryptocurrency world and the day was filled with bullish news from all across globe. Here is a round up of today’s major cryptocurrency news and headlines which you should not miss. The major headlines are:
- As planned MicroStrategy announced to purchase Bitcoin from the proceedings of its $650 Million senior convertible notes.
- Around $200 Million worth of Tether [USDT] were minted today at Tether Treasury.
- SBI financial group today acquired cryptocurrency trading exchange B2C2
MicroStrategy total Bitcoin [BTC] Investment Reaches $1 Billion
MicroStrategy CEO announced that company will use the proceedings nearing $635 Million from recent senior convertible note sale to purchase Bitcoin. This takes the overall bitcoin investment figure to $1 billion. Currently company owns 40, 824 Bitcoin valued around $790 Million at the time of reporting.
In a recent tweet MicroStrategy CEO slashed the accusations of MicroStrategy dealing in securities and said that SEC has not called BTC a security and hence, we are not buying securities.
MicroStrategy is not an investment company (IC) per the 1940 Investment Co. Act. An IC is a co. that invests ≥ 40% of assets (less cash & govt securities) in “securities”. Per the SEC, #BTC isn’t a security. Ergo, holding BTC doesn’t cause MicroStrategy to become an IC.
— Michael Saylor (@michael_saylor) December 12, 2020
$200 Million Tether [USDT] Minted
In an interesting event today, large amount of Tether ~$200 Million were minted at Tether treasury and was followed by bullish signals in Bitcoin community. Generally, minting of new Tether Coins is considered a bull signal and is followed by rapid crypto buying. With ongoing bitcoin buying spree by large multinational companies like MicroStrategy and Grayscale already owning around 2.8% of total Bitcoin supply many traders believe it is only a matter of time for BTC to cross $20k.
???? ???? ???? ???? ???? ???? ???? ???? ???? ???? 200,000,000 #USDT (199,549,159 USD) minted at Tether Treasury
— Whale Alert (@whale_alert) December 15, 2020
SBI Financial Group Acquires Cryptocurrency Trading Exchange B2C2
In another positive crypto news today, SBI financial group a subsidiary of Japanese Group SBI holdings Inc. acquired UK based cryptocurrency trading exchange B2C2. The current CEO and president of SBI holdings Yoshitaka Kitao said,
Their (B2C2’s) vision, expertise and offering complement SBI’s, and we look forward to working in partnership as we expand our footprint across the global markets.
This acquisition makes SBI financial group the first major financial group to run a digital asset dealing desk and signals rising FOMO among major financial groups across globe to enter cryptocurrency market.
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- Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions
- Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
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