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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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MicroStrategy purchases another $1 billion worth of Bitcoin, now owns 90,000 BTC

CEO Michael Saylor said the firm didn't intend to slow down the rate of its Bitcoin acquisitions after buying another $1 billion worth of BTC.

Business intelligence firm MicroStrategy increased its Bitcoin (BTC) holdings by 27% on Feb. 24, after purchasing an additional 19,452 coins, taking its total BTC haul to 90,531 Bitcoin.

Announced on the company’s website on Wednesday, the coins were reportedly purchased for approximately $52,765 per coin, equating to an outlay of just over $1 billion.

MicroStrategy Incorporated CEO Michael Saylor said the firm’s focus was now two-fold: grow its analytics software enterprise, and buy more Bitcoin. 

Saylor said, “The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin."

In the six months since MicroStrategy announced its first $250 million investment in Bitcoin, the company has gone on to spend in excess of $4 billion on the digital asset. Saylor said there was no plan to stop buying BTC any time soon.

“The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value. We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase additional bitcoin."

The value of MicroStrategy’s purchase exceeded the figures previously floated by the firm, which announced it would raise $900 million to buy more Bitcoin on Feb. 17.

Phong Le, president and chief financial officer at MicroStrategy, said the Bitcoin purchases would help enhance awareness of its brand as a software business, while also acting as a sign of faith in the Bitcoin network.

“We believe our bitcoin strategy, including our bitcoin holdings and related activities in support of the bitcoin network, is complementary to our software business, by enhancing awareness of our brand and providing opportunities to secure new customers," he said.

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