Cloud Software Firm Phunware Buys 398 More Bitcoins for About $24M

The company now owns about 529 bitcoins in total, according to a statement.

AccessTimeIconNov 22, 2021 at 2:35 p.m. UTC
Updated Nov 22, 2021 at 3:37 p.m. UTC

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Mobile cloud software company Phunware (PHUN) announced Monday that it has bought an additional 398 bitcoins for about $23.8 million in cash at an average price of about $59,917 per bitcoin, including fees.

  • The Austin, Texas-based firm said it now holds about 529 bitcoin at an average purchase price of approximately $60,191 per bitcoin, according to a statement Monday.
  • Phunware said last week it would start processing initial issuances of PhunCoin, available for trading on Securitize. In late October, the company said it would begin accepting bitcoin as a form of payment.
  • Shares of Phunware were down more than 3% to $3.57 in early trading on Monday.

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Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.