Today In Crypto: MicroStrategy to Buy ~$635 M Worth of Bitcoin | $200 M Tether [USDT] Minted | SBI Acquires Crypto Exchange B2C2

Published December 16, 2020 | Updated December 16, 2020

cryptocurrency market
Source: Kiplinger.com

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.

Microstrategy Bitcoin Buying Spree
Source: Messari, Microstrategy Bitcoin purchase tracker

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.

 

$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.

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.

 

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
Sunil Sharma 182 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
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