Greg Thomson
MicroStrategy’s Bitcoin buying spree shows no signs of slowing after CEO Michael Saylor announced the purchase of another 328 Bitcoin (BTC) on Monday. The acquisition, which was paid for in cash, cost the firm around $15 million and equated to an average coin price of $45,710 at the time of purchase.
The investment takes MicroStrategy’s total Bitcoin holdings to 90,859 coins — a haul worth $4.3 billion based on the current price. The firm has essentially dollar-cost-averaged into Bitcoin over the course of the past five months, leaving the average price of each of its Bitcoin purchases at $24,063 per coin. Saylor tweeted on Monday:
MicroStrategy has purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average price of ~$45,710 per #bitcoin. As of 3/1/2021, we #hodl ~90,859 bitcoins acquired for ~$2.186 billion at an average price of ~$24,063 per bitcoin. $MSTRhttps://t.co/fGH5KacsPI
— Michael Saylor (@michael_saylor) March 1, 2021
Osato Avan-Nomayo
Thailand’s Securities and Exchange Commission has walked back previous plans to enact a 1 million baht (about $33,000) minimum annual income requirement for crypto investment in the country. According to a report by the Bangkok Post on Tuesday, the Commission has clarified that the previous draft document was published to gauge investor sentiment.
The Thai SEC backtracking comes amid outrage from crypto stakeholders in the country who bemoaned the proposed rule saying that it would exclude low and middle-income earners from the cryptocurrency market.
Martin Young
Payments company MoneyGram International has been sued over alleged false statements, made regarding its partnership with Ripple Labs and their XRP cryptocurrency. The class action lawsuit, filed on March 1 in California, was submitted on behalf of investors who purchased securities from MoneyGram between June 17, 2019, and February 22, 2021.
The global investor rights legal practice assert MoneyGram made fraudulent statements regarding its partnership with Ripple Labs and the status of XRP as a security.
According to a post announcing a "strategic partnership" between the two companies in June 2019, MoneyGram utilized Ripple's xRapid product, "leveraging XRP in foreign exchange" settlements as part of its cross-border payment process.
This Daily Dose was brought to you by Cointelegraph.
