Bitcoin Rises Following SEC Suit
Posted on 06/28/2023
Despite the SEC cracking down on bitcoin exchanges via lawsuits, the cryptocurrency has risen over 30%. Bitcoin is holding firm above US$ 30,000 as indecision mounts. Investors say it is more difficult to sell crypto since the lawsuit began against Binance, but others decided hoarding was the best bet at prices that were the lowest seen since 2020.
MicroStrategy Swoops In
Cloud services company MicroStrategy is synonymous with bitcoin, and the company revealed that it has acquired US$ 347 million in bitcoin in Q2 2023. MicroStrategy’s stock has risen 155% over five years, but is well down from its 2021 peak of over US$ 1,000 per share. The purchase netted MicroStrategy 12,333 bitcoins.