Business intelligence firm MicroStrategy is showing no signs of backing down on its gambit. Right around the time that Sam Bankman-Fried was being exposed as a fraud, MicroStrategy was scooping up more Bitcoin (BTC) — this time, the firm bought as close to the bottom as it’s ever gotten. While Bitcoin can always go lower, seeing a MicroStrategy buy around $17K is refreshing. Interestingly, MicroStrategy also sold some BTC earlier this month — but not for the reason you think (more on that below.)
The final Crypto Biz newsletter of 2022 discusses MicroStrategy’s Bitcoin buy, Fidelity Investments’ foray into the metaverse, Changpeng Zhao’s response to haters and the collective woes of Bitcoin miners.
MicroStrategy adds to Bitcoin stake despite steep loss
Public Bitcoin mining companies plagued with $4B of collective debt
CZ addresses reasons behind Binance’s recent FUD
Fidelity plans NFT marketplace and financial services in the metaverse
Before you go: What does 2023 have in store for crypto?