{"id":145519,"date":"2021-11-23T08:07:38","date_gmt":"2021-11-23T08:07:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=145519"},"modified":"2021-11-23T08:07:38","modified_gmt":"2021-11-23T08:07:38","slug":"cloud-software-firm-phunware-buys-additional-24m-bitcoin-btc","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/cloud-software-firm-phunware-buys-additional-24m-bitcoin-btc\/","title":{"rendered":"Cloud Software Firm Phunware Buys Additional $24M Bitcoin\u00a0(BTC)"},"content":{"rendered":"

Yesterday, Phunware announced the purchase of $23.8 million worth of bitcoin, and now holds over $31 million in the flagship cryptocurrency. The move comes after they recently began accepting bitcoin as a means of payment.\u00a0<\/strong><\/p>\n

<\/span>Phunware Purchase $23.8 Million Bitcoin<\/b><\/span><\/h2>\n

Phunware intends to take part in blockchain-centered financial decentralization and future disruption. The startup is an enterprise cloud network that provides mobile phone applications both in android and iPhone.\u00a0 According to recent reports, Phunware bought <\/span>398 additional<\/span> bitcoin at a total cost of $23.8 million. They paid an average price of $59917 per bitcoin, which is inclusive of the fee.\u00a0<\/span><\/p>\n

On November 5th, Phunware purchased around <\/span>100 bitcoin<\/span> at the cost of about $6.2 million.\u00a0 At that time, bitcoin was trading at just about $62k.\u00a0<\/span><\/p>\n

Phunware now holds a total of 529 bitcoin, costing $31.8 million, including fees. The platform aims to benefit from bitcoin while offering premium services for the users. However, the move to purchase bitcoin led to tumbling prices in Phunware shares. According to some sources, the shares plunged by about 3% earlier this morning.\u00a0\u00a0<\/span><\/p>\n

<\/span>Phunware\u2019s Interest in Bitcoin<\/b><\/span><\/h2>\n

In recent weeks, Phunware has shown vast interest in the crypto space, and especially bitcoin. Aside from purchasing the coin, the platform announced that it would start <\/span>accepting bitcoin<\/span> payments.\u00a0<\/span><\/p>\n

Phunware announced its bitcoin adoption plans soon after purchasing a technology network called Lyte. Lyte is a technology network that sells optimized PCs for gamers, developers, content creators, and others.\u00a0<\/span><\/p>\n

Phunware began accepting bitcoin since the move aligns with their future vision of a blockchain-centered decentralized economy. The firm has created Phuntoken and Phuncoin, which work on the same concept of decentralization. The bitcoin that the startup purchased will help in the payment works.\u00a0<\/span><\/p>\n

<\/span>Increasing Institutional Adoption for Bitcoin<\/b><\/span><\/h2>\n

The move by Phuware to not only accept but also own bitcoin will be very instrumental in bitcoins growth. Institutional adoption has always been the key to the development of Bitcoin. Of course, several companies have been adopting bitcoin as their payment tool. Earlier this year, Tesla, one of the popular worldwide electric car manufactures, began accepting bitcoin as a payment currency. The move led bitcoin to serious price surges.<\/span><\/p>\n

Although companies like Phunware have purchased a small amount of BTC, the adoption and support are also good for the coin’s future.<\/span><\/p>\n

<\/span>Related posts:<\/span><\/h3>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday, Phunware announced the purchase of $23.8<\/p>\n","protected":false},"author":3,"featured_media":145518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"\nCloud Software Firm Phunware Buys Additional $24M Bitcoin\u00a0(BTC) - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/cloud-software-firm-phunware-buys-additional-24m-bitcoin-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cloud Software Firm Phunware Buys Additional $24M Bitcoin\u00a0(BTC) - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Yesterday, Phunware announced the purchase of $23.8\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/cloud-software-firm-phunware-buys-additional-24m-bitcoin-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-23T08:07:38+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/11\/Cloud-Software-Firm-Phunware-Buys-Additional-24M-Bitcoin-BTC.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/cloud-software-firm-phunware-buys-additional-24m-bitcoin-btc\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/cloud-software-firm-phunware-buys-additional-24m-bitcoin-btc\/\",\"name\":\"Cloud Software Firm Phunware Buys Additional $24M Bitcoin\u00a0(BTC) - 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