CoinSmart Crypto Recap April 6, 2023

crypto recap

Welcome to the CoinSmart crypto recap. Let’s look at the hottest stories that came up this past week. Here is an overview:

  • Twitter replaces blue bird logo with doge
  • MicroStrategy acquires 1045 bitcoins

Twitter replaces blue bird logo with doge

Twitter’s iconic bird logo was replaced by the infamous doge meme earlier this Monday. The logo switch increased Dogecoin’s price by 30%. in a week. The change in the logo is only visible on the web browser of Twitter and not on the app. The Doge image is well known as the logo of Dogecoin cryptocurrency, created as a joke by software engineers Billy Markus and Jackson Palmer in 2013 to make fun of the wild speculation in cryptocurrencies at the time.

The logo change is a callback to when a Twitter user suggested that Musk buy the social media giant and change the logo to Doge. Many are speculating that Musk has pumped the coin’s price to make up for the billions he has lost after buying Twitter.

MicroStrategy acquires 1045 bitcoins

Business intelligence firm MicroStrategy has bought an additional 1,045 Bitcoins for a total purchase price of roughly $29.3 million. According to a recent filing with the United States Securities and Exchange Commission (SEC), the new acquisition was made between March 24 and April 4 at an average price of $28,016 per coin. This most recent haul brings the company’s Bitcoin vault to an astounding 140,000 coins – worth $4.17 billion. The company’s average purchase price now stands at $29,803 per Bitcoin.

MicroStrategy has been a key player in the corporate adoption of the flagship cryptocurrency since its initial investment in August 2020. Since then, the company has continued to expand its Bitcoin holdings, making it the largest corporate holder of digital assets. The company now owns 1 out of every 150 bitcoins that will ever exist.

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