MicroStrategy is about to buy another $ 400 million in bitcoins

MicroStrategy is about to buy another $ 400 million in bitcoins

According to a June 7 press release, MicroStrategy is trying to raise another $ 400 million by issuing and providing senior collateral to buy more bitcoins:

"MicroStrategy intends to use the net proceeds from the sale of these securities to obtain additional bitcoins."

In a recent case with the US Securities and Exchange Commission (SEC), the company also reported a loss of at least $ 284.5 million in value from its previous bitcoin purchases.

In February, MicroStrategy raised $ 1.05 billion and then used that 9-digit amount to buy more bitcoins in the same month.

The business intelligence company currently owns 92,079 bitcoins. The company has also formed a new subsidiary called MacroStrategy LLC to maintain its bitcoin wealth.

Bitcoin, with a slight drop of 1.31% in the news, is currently trading at $ 36,665 at the Bitstamp exchange. The leading cryptocurrency is currently down 44% from its April 14 high.

PayPal plans to have withdrawals with [Bitcoin] and other + cryptocurrencies in its program

PayPal plans to have withdrawals with Bitcoin and other cryptocurrencies in its program

PayPal is set to add support for cryptocurrency withdrawals to third-party wallets.

Jose Fernandez da Ponte, vice president and general manager of China's blockchain and cryptocurrencies, announced the new performance at the CoinDesk Consensus 2021 conference:

"We understand that if you can move cryptocurrencies, they will be more useful. "So we're definitely looking at how we can allow users to transfer cryptocurrency to their PayPal address or vice versa."

It is not clear when PayPal users can transfer their passwords through this app.

The company first offered its cryptocurrency in October 2020, before gradually expanding it.

PayPal is also in the early stages of offering its StableCoin.