The Bank of Korea (BOK) has dismissed the possibility of establishing a strategic bitcoin reserve, citing concerns over price volatility and risks. This comes despite ongoing global discussions about using bitcoin as part of foreign exchange reserves following the United States plans to create a reserve.

In response to an inquiry from a member of the National Assembly’s Strategy and Finance Committee, the central bank rejected adding bitcoin to its reserves. BOK officials emphasized bitcoin’s wild price swings as a key deterrent, stating that transaction costs to convert bitcoin to cash “could rise drastically” if the market experiences instability.

As of March 17th, bitcoin…

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Strategy Corporation has made another significant move in the cryptocurrency market by purchasing 130 bitcoins at an average price of $82,981 each totaling $10.7 million. The transaction was disclosed in a Monday morning filing revealing the acquisition was funded through the sale of a modest amount of the company’s preferred stock.

The firm sold 123,000 shares of its STRK stock last week which generated approximately $10.7 million. This strategic sale comes on the heels of Strategy’s announcement of a mammoth $21 billion at-the-market offering of the same stock type.

With this latest investment Strategy’s holdings have swollen to 499,226 bitcoins acquired at an average cost of $66,360 per token. The company boasts a BTC yield of 6.9% year-to-date demonstrating a bullish outlook on the future of cryptocurrency.

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