Search results for The Smarter Web Company
Crypto
Economist Peter Schiff says Strategy BTC yield plunges, urges buying bitcoin directly
Economist Peter Schiff, known as a bitcoin sceptic, said Strategy’s bitcoin yield could turn negative this year. Strategy’s shares rose as much as 7 percent intraday after it expanded its dollar reserves, though some questioned its appeal as a proxy for bitcoin investment. Schiff said Strategy’s bitcoin yield fell to 4.5 percent from 13.3 percent in two months and urged investors to buy bitcoin directly. Strategy said it increased dollar reserves and repurchased preferred shares.
Crypto
U.S., UK listed companies sell bitcoin to repay $31.7 million in debt
Two listed companies in the United States and Britain sold a combined 511 bitcoin and repaid about $31.7 million of debt a day apart. U.S. battery technology firm KULR Technology Group sold about 333 bitcoin to repay a $20 million Coinbase credit facility principal, with unpaid interest due in August. The Smarter Web Company sold 177.8909127 bitcoin to redeem a convertible bond due Aug. 5, avoiding potential issuance of 7,718,551 shares.
Crypto
UK bitcoin treasury firm Satsuma sells all BTC, moves toward delisting
UK bitcoin treasury firm Satsuma Technology will sell all 668 bitcoin it holds and wind down the business, less than a year after adopting bitcoin holdings as a core strategy. Shareholders approved the sale and a London Stock Exchange delisting with more than 90 percent support. After selling about $43.5 million of bitcoin, the company plans to refund remaining funds via a UK “B share scheme”, projecting payouts of 26.8 million to 30.0 million pounds after costs.
