Crypto News Roundup: MicroStrategy Wants More Bitcoin and XRP Whale Dumps $140M
In today’s top crypto news: MicroStrategy is going all-in on Bitcoin with a $2B stock offering, Ripple’s co-founder dumps $140M in XRP, and Galaxy Digital stirs market panic after moving 10,000 BTC to exchanges.
MicroStrategy Raises $2 Billion To Buy More Bitcoin
MicroStrategy is ramping up its Bitcoin bet once again. The firm announced that it has expanded its latest perpetual convertible stock offering from $500 million to a massive $2 billion, with all proceeds intended to buy more Bitcoin. The stock in question, STRC, is priced at $90 per share — and major players like Morgan Stanley and Barclays are reportedly eyeing the opportunity.
MicroStrategy already holds over 607,000 BTC, making it the largest corporate holder of Bitcoin in the world. But the company isn’t satisfied just yet. Rumours are swirling that their long-term goal is to reach 1 million BTC in treasury holdings.
While $Bitcoin recently touched an all-time high this month, the crypto community remains divided. Bulls interpret MicroStrategy’s move as strong, long-term conviction. Critics argue that an over-leveraged treasury could become a serious liability if $BTC sees a sharp correction.
Ripple Co-Founder Offloads $140M in XRP
In other crypto news, Ripple (XRP) took a hit after co-founder Chris Larsen transferred 50 million XRP (roughly $140 million) to exchanges. The move was spotted by blockchain analyst ZachXBT and quickly confirmed by on-chain data.
XRP had just reached a local high of $3.65 on July 17, but the dump triggered an immediate reaction — a sharp 11% drop as traders digested the implications. While large token sales from founders are not new, the timing couldn’t have been worse for XRP bulls hoping for a breakout. This whale move has stirred debate over transparency and long-term trust in Ripple’s ecosystem.
Galaxy Digital Moves $1.18 Billion in BTC to Exchanges
According to Lookonchain, Galaxy Digital has just transferred over 10,000 BTC — worth approximately $1.18 billion — to major centralized exchanges within just 8 hours. The funds originated from a single OG Bitcoin wallet that still holds 80,009 BTC (roughly $9.68 billion).
The move is raising alarms. Galaxy reportedly bought these BTCs over-the-counter (OTC), then pushed them to exchanges — a typical playbook for preparing a sell-off. Although some suggest this could be strategic rebalancing, traders are already pricing in potential increased volatility.
Bitcoin is currently hovering near a crucial support level. A selloff of this size could trigger cascading liquidations, especially for leveraged traders.
Rudy Fares
Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.
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