MicroStrategy buys 467 bitcoin, Coinbase to integrate lightning and KPMG is positive about BTC
KPMG writes about role of bitcoin for ‘real life crisis solutions’
KPMG has published a report on bitcoin, highlighting the ways in which it can actually contribute to the traditional ecosystem.
The report has a total of four points that highlight how BTC has been useful in recent incidents. This is notably imperative as these are the instances when the traditional financial mechanism could not deliver the result on time or effectively as and when it was required to do.
They also mention the positive impact of bitcoin on the environment with stabilizing the grid, reducing greenhouse gases, providing sustainable heat and besides that its impact on global society.
MicroStrategy Q2 profits soar with 467 BTC purchase
MicroStrategy, the largest independent publicly-traded business intelligence company, has announced its financial results for the second quarter of the 2023 fiscal year.
One of the standout highlights of the report is MicroStrategy’s bitcoin holdings. The company has been steadily accumulating the crypto as part of its capital allocation strategy.
Its co-founder and chairman, Michael Saylor has been a very vocal proponent of Bitcoin. He recently revealed that the company had acquired an additional 467 BTC for $14.4 million. The company had previously reported the purchase of 12,333 BTCs in the month of June.
As of July 31, 2023, MicroStrategy held a staggering 152,800 bitcoins, acquired at a total cost of $4.53 billion, with an average price of $29,672 per bitcoin.
Source: Cryptodaily
Coinbase CEO hints at lightning network integration
Coinbase is considering integrating Bitcoin’s Lightning Network to facilitate quicker and cheaper payments.
The exchange’s CEO, Brian Armstrong, hinted at it in response to a tweet by Jack Dorsey. The Twitter co-founder, in his turn, questioned Coinbase’s approach toward Bitcoin and Lightning Network adoption.
Many competing cryptocurrency exchanges, including OKX, Binance, Kraken, and Bitfinex, have already adopted the lightning network and support it on their exchanges.
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