The largest software manufacturer wants to invest $400 million in Bitcoin, and the co-founder of Ripple is actively selling XRP
The largest software manufacturer intends to invest another $400 million in the purchase of BTC
MicroStrategy, a software manufacturer, wants to raise $400 million for investing in Bitcoin. Previously, the company invested $475 million to purchase the main cryptocurrency.
The software manufacturer has released a statement about plans to issue convertible bonds. The maturity date for them is set until December 15, 2025. The securities will be available only to qualified institutional investors.
In 2020, MicroStrategy bought BTC several times. In August, the manufacturer invested $ 50 million in the first crypto coin. The next month, the share of the company’s crypto assets increased by another $175 million.
In early December, Michael Taylor, the CEO of MicroStrategy, wrote on Twitter that the company acquired 2,574 bitcoins for $50 million. Currently, the software manufacturer owns 40,824 BTC.
One of the Ripple creators sold almost 30 million XRP
Jed McCaleb, one of the founders of Ripple, sold another 29.5 million XRP. After leaving the Ripple project, the businessman received 9 billion XRP tokens.
Six years ago, he announced that he plans to liquidate these crypto assets. After a lengthy conflict with Ripple Labs over this, McCaleb entered into an agreement with former partners. According to the document, the entrepreneur was able to sell XRP by tying them to the global trading volume.
Under the terms of the agreement, McCaleb was entitled to sell up to 1.5% of the world’s XRP trading volume daily. It is important to consider that XRP reached a new all-time high in November. Therefore, the speed with which an entrepreneur began to get rid of crypto assets could negatively affect the market.
“After the radical increase in XRP volume (according to CMC) it only made sense that Jed would increase his sales, as per his deal with Ripple. Today 9.9 million XRP were sold, making it a new ATH of Jed sales. At this rate, Jed’s 3.836B will run out after 387 days”, says cryptoexpert Leonidas Hadjiloizou, ”said Leonidas Hadzhiloizu.
McCaleb owns about 3.7 billion tokens.