U.Today Crypto Digest: Strategy (MSTR) Buying Bitcoin Again, Bitmine Adds $108 Million Worth of Ethereum, XRP Price Flashes Major Warning
🔥 Key Takeaways
MicroStrategy Strengthens Its Bitcoin Holdings
Business intelligence firm MicroStrategy, known for its strong support of Bitcoin, has announced another significant purchase of the cryptocurrency. According to a recent filing with the Securities and Exchange Commission (SEC), MicroStrategy has acquired an additional 7,002 Bitcoins for approximately $414.4 million. This purchase brings the total amount of Bitcoin held by the company to around 121,044 coins, which are now valued at over $7 billion at the current market price.
Bitmine Doubles Down on Ethereum
Crypto mining firm Bitmine has further solidified its commitment to Ethereum by investing an additional $108 million in the cryptocurrency. This move more than doubles its current stake in ETH, demonstrating the company’s belief in the long-term potential of Ethereum. Bitmine’s significant investment could be seen as a vote of confidence in the Ethereum network, particularly as it continues to transition towards proof-of-stake with the upcoming Merge.
XRP Price at a Critical Juncture
XRP investors are on high alert as the cryptocurrency’s price action has flashed a major warning signal. After failing to break through a significant resistance level, XRP is now at risk of a substantial decline. The third-largest cryptocurrency by market capitalization is caught between a rock and a hard place, navigating through legal challenges and regulatory scrutiny that continue to impact its price. Investors are advised to monitor the situation closely, as the coming days could be pivotal for XRP’s future trajectory.
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