- Strategy announces stunning Bitcoin purchase
- Ripple CTO ends 10,000 XRP bug speculation
- New whale empties Binance for $50 million Bitcoin
U.Today has prepared summaries of the top three news stories over the past day.
Strategy announces stunning Bitcoin purchase
According to Strategy's announcement made on Monday, May 5, the business intelligence firm has acquired an additional 1,895 Bitcoins for approximately $180 million. Michael Saylor, Strategy's executive chairman, hinted at the company's upcoming purchase move in his social media post on Sunday. At press time, Bitcoin is changing hands at $94,243, up less than 1% over the past 24 hours. As reported by U.Today, on April 28, Strategy bought an additional $1.4 billion worth of BTC; the company spent its entire $21 billion at-the-money (ATM) offering within mere months. Last week, Strategy announced it would double its Bitcoin acquisition capital to $84 billion. The company registered a new $21 billion equity offering after exhausting the previous one and has also increased its debt purchase program to $42 billion, with $14.6 billion still available.
Ripple CTO ends 10,000 XRP bug speculation
The XRP community is abuzz with speculation following a recent incident involving a failed transaction of 10,000 XRP. The transaction, flagged on XRPL as a payment to "Xaman Service Fee," appeared during a routine swap operation. The transaction showed a failed status labeled "UNFUNDED_PAYMENT," as the sending account did not have enough funds to complete the transfer. However, the transaction still raised concerns due to its large size. Ripple's CTO David Schwartz took to social media to clarify that the issue was not intentional or malicious but rather a rare edge case the system was not set up to handle. "There's no mystery here. It's a weird edge case that the code was not designed to handle. It's been fixed," he wrote.
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New whale empties Binance for $50 million Bitcoin
According to an X post by Lookonchain, a new crypto whale has emerged recently when a new wallet withdrew 500 BTC worth about $47.82 million from Binance. What is interesting about this transfer is that it occurred during Bitcoin's price correction. Earlier in the week, the flagship crypto peaked at around $97,000 but dipped below $94,000 before slightly recovering to around $94,500. The new wallet lacks transaction history, which suggests cold storage or custodial setup. Such a move usually indicates a long-term investment strategy rather than immediate trading activity. Whale transactions are closely watched, especially on a mixed market, and this significant outflow hints that some major players are still accumulating Bitcoin despite short-term bearish indicators.
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