MicroStrategy Acquires 467 Bitcoins in Recent Purchase

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MicroStrategy Acquires 467 Bitcoins in Recent Purchase; Binance officially launches its platform in Japan; Justin Sun buys $1.96 million CRV

MicroStrategy founder Michael Saylor announced that his company purchased 467 more Bitcoins for $14.4 million in July. 

With this move, MicroStrategy continued to maintain its position as the institutional company with the most Bitcoin. With the latest purchase, the number of BTC held by the company increased to 152,800. 

MicroStrategy included the following information about its digital assets in its second quarter report:

“As of June 30, 2023, the value of the company’s digital assets (152,333 BTC) was $2.323 billion”

A radical change in the company

Phong Lee, CEO of MicroStrategy, spoke about the company’s move into AI, noting that it represents a fundamental shift in the company:

“Our new MicroStrategy One platform is the most significant product innovation in our company’s history. Because it represents a fundamental shift towards harnessing the power of AI to drive the way business is done forward.”

Le said the company is well positioned given the current economic conditions.

“Our revenue growth this quarter demonstrated the strength of our enterprise cloud platform, despite continued macroeconomic headwinds.”

Andrew Kang, Chief Financial Officer of MicroStrategy, informed about the company’s Bitcoin assets:

“Our Bitcoin holdings increased to 152,800 BTC as of July 31, 2023. We added 12,333 BTC in the second quarter, the largest increase in a single quarter since the second quarter of 2021.”

Binance officially launches its platform in Japan

Binance, the leading cryptocurrency exchange, has officially launched its cryptocurrency platform in Japan in compliance with the country’s regulations.

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Binance stated that the platform has been launched and users will be able to start opening accounts from mid-August. While Japanese users will lose access to Binance’s global platform until November 30, they will be able to use the new platform from December 1.

Binance made the following statements in a statement on X:

“We are proud to announce the official launch of Binance in Japan as Binanca Japan KK. Users in the country now have access to more tokens than any other exchange with Spot and Earn products.”

Japan changes its view on crypto

The Asian country has eased some cryptocurrency rules to support blockchain-based startups. However, regulations on digital assets are strict globally. Binance moved last year to reopen operations in Japan. 

In 2018, the company abandoned plans to open a platform in the country following an investigation by the Japanese securities regulator.

Binance and founder Changpeng Zhao are under intense scrutiny in the US and Europe. The company’s troubles have also led to a decline in crypto trading volume.

Justin Sun buys $1.96 million CRV

Tron founder Justin Sun has moved to mitigate the negative effects of Curve Finance’s recent abuse

Sun made a move to protect a large loan tied to Curve Finance founder Michael Egorov from liquidation. Tron made a purchase to support the price of its founder CRV.

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Securities firm PeckShield announced that a wallet reportedly owned by Justin Sun purchased 5 million CRV tokens from Michael Egorov for $2 million. Likewise, Lookonchain analysts confirmed the exchange between Sun and Egorov.

Tron founder Justin Sun made a statement on his official Twitter account after purchasing CRV token for $ 2 million. In his statement, Sun stated that they are excited to have helped Curve Finance.

Confirming a certain partnership with Curve Finance, Sun said that:

“As loyal partners, we are committed to providing support when needed. Our joint efforts will increase user benefits by creating a stUSDT pool on Curve. Together, we aim to empower the community and create decentralized finance.”

MicroStrategy Acquires 467 Bitcoins in Recent Purchase; Binance officially launches its platform in Japan; Justin Sun buys $1.96 million CRV