It has been just revealed the fact that MicroStrategy has just poured almost $600 million in Bitcoin. Check out the latest reports about the matter below.
MicroStrategy buys more BTC
Software company MicroStrategy, which is well-known for its bitcoin holdings, has recently purchased more of the digital asset. The company also revealed that it may raise additional funds by selling new shares.
According to a filing, between November 1 and November 29, MicroStrategy bought an additional 16,130 bitcoin for $593.3 million. The average price paid for each token was $36,785.
In a post on X, Founder and Chairman Michael Saylor announced that the company currently holds 174,540 BTC acquired at an average price of $30,252 each.
The company also disclosed its plan to generate up to $750 million by selling new Class A common stock shares. As of 11:35 a.m.
ET on Thursday, Bitcoin was trading mostly flat at $37,652, according to The Block data. Despite this, the world’s largest digital asset by market capitalization has risen by 10% in the past month and 122.8% in the past year.
Decentralizing Bitcoin mining
Jack Dorsey, the billionaire co-founder of Block, has led a new funding round aimed at decentralizing the Bitcoin (BTC) mining ecosystem.
The press release states that Dorsey has headed a seed funding round of $6.2 million to support the launch of OCEAN, Mummolin’s decentralized BTC mining protocol.
“Mummolin, Inc., announced today that it has raised $6.2 million in seed funding, led by Jack Dorsey, Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, the Bitcoin Opportunity Fund, and other strategic partners.
The seed funding will support the launch of OCEAN, the first of many mining decentralization projects for Bitcoin.”
According to Dorsey, OCEAN is a mining protocol for BTC that is permissionless, non-custodial, and transparent. The protocol aims to solve the issue of Bitcoin mining pools becoming increasingly centralized.
