Significant events continue to unfold in the cryptocurrency world. MicroStrategy has raised $2 billion to expand its Bitcoin reserves, while other companies are also taking actions in the market.
MicroStrategy's Bitcoin Investments
MicroStrategy announced it has expanded its latest stock offering, increasing the amount from $500 million to $2 billion. All proceeds are intended to be used for purchasing Bitcoin. Currently, MicroStrategy holds over 607,000 BTC, making it the largest corporate holder of Bitcoin in the world. The company aims for an ambitious goal of reaching 1 million BTC in its reserves.
Ripple Co-Founder Sells XRP
Ripple co-founder Chris Larsen transferred 50 million XRP (approximately $140 million) to exchanges. This was spotted by blockchain analyst ZachXBT and confirmed by on-chain data. Following this sale, the price of XRP dropped by 11%, sparking discussions over transparency and trust in Ripple's ecosystem.
Galaxy Digital Moves BTC to Exchanges
Galaxy Digital transferred over 10,000 BTC, worth approximately $1.18 billion, to major centralized exchanges within eight hours. The funds originated from a known Bitcoin wallet that still holds 80,009 BTC (around $9.68 billion). This operation raises alarms, as it may signal preparation for a sell-off, potentially increasing market volatility.
Events in the cryptocurrency market are continuing to evolve. MicroStrategy, Ripple, and Galaxy Digital are making significant moves that could impact the future valuations of digital assets.
