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MicroStrategy Makes Enormous Bitcoin Purchase, Shytoshi Kusama Reveals SHIB Game, 'Rocket Fuel' for XRP, ADA Could Be Here, Report Says: Crypto News Digest by U.Today

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Fri, 21/06/2024 - 16:16
MicroStrategy Makes Enormous Bitcoin Purchase, Shytoshi Kusama Reveals SHIB Game, 'Rocket Fuel' for XRP, ADA Could Be Here, Report Says: Crypto News Digest by U.Today
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U.Today presents you with the top three news stories over the past day.

MicroStrategy's enormous Bitcoin purchase announced by Michael Saylor: Details

Yesterday, June 20, Michael Saylor took to X platform to announce a recent massive purchase of MicroStrategy. The company acquired 11,931 BTC worth $786 million, with the average price per coin constituting $65,883. Currently, the company owns a total of 226,331 BTC, making it the largest corporate holder of Bitcoin. The funding for the purchase was provided by MicroStrategy's recent debt sale. Prior to that, the company announced that it had completed its $800 million convertible note offering. However, the acquisition, despite its massive size, did not have much of an effect on the market, as it was mostly priced in after MicroStrategy upsized its debt sale last week.

Shiba Inu team lead unveils unexpected SHIB game

In a recent X post, Lucie, marketing lead at the Shiba Inu project, revealed what to expect from a Shibarium game that is currently in its late developmental stages, citing the words of Shiba Inu lead Shytoshi Kusama. According to Kusama, the completed game will be licensed solely to the decentralized team at Shiba Inu for use on Shibarium. Later on, the mobile version could be enhanced via the addition of relatable decentralized elements. The Shiba Inu lead hopes that the game will provide value to the ecosystem’s core tokens, SHIB, LEASH and BONE. Also, Kusama confirmed that revenue from in-app game purchases will incentivize SHIB and LEASH burns.

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XRP, ADA: Good sign for potential bulls, "rocket fuel" could be here: Report

A recent Santiment report brought good news to the XRP and ADA communities. As stated by the the Santiment analytics team, these two popular altcoins are currently seeing heavy trader shorting after recent price bounces. This is actually a good sign for potential bulls, as this shorting can act as “rocket fuel” for continuous price rises. At press time, XRP and ADA are occupying the seventh and tenth places on CoinMarketCap’s top 10 list of cryptocurrencies, changing hands at $0.4838 and $0.3797, respectively, with their market capitalization standing at $26,886,410,927 and $13,552,171,536.

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