Bitcoin Price Drops Again and MicroStrategy Lawsuit

At the beginning of the month, we again present the latest news in our crypto newsletter. It’s about the renewed drop in Bitcoin price, a sponsorship from Crypto.com and a lawsuit from MicroStrategy.

Crypto Newsletter #1: Bitcoin price drops a bit again

The Bitcoin price fell slightly again this Thursday. Bitcoin and most cryptocurrencies are slightly in the red again. Bitcoin fluctuated more today. It rose partially to $20,300. But in the last few hours we saw losses again and a drop below $20,000.

BTC course 1 day
Bitcoin price in the last 24 hours, source: Coinmarketcap

The ether price also experienced sharp fluctuations, but was able to stay above the psychologically important $1,500 mark. The other major cryptocurrencies also saw small losses. In contrast, among the top 100, EOS and CEL were able to post small gains.

In fact, it should come to one of the biggest sponsorship deals in history with the UEFA Champions League. The well-known crypto exchange Crypto.com has become known in recent years for its partnerships with major sporting events and leagues. Most famously, the LA Lakers’ iconic Staples Center was renamed the Crypto.com Arena.

crypto.com Cryptocurrencies

But at the last minute the platform got out of the deal with UEFA. The crypto exchange was supposed to replace the Russian state-owned company Gazprom as sponsor. The agreement was to amount to a payment of 100 million euros per season over a total of 5 years. Nothing is known about the exact details of the failure.

Crypto Newsletter #3: MicroStrategy and Michael Taylor Uproar Over Accusations

Let’s get to the last topic from our crypto newsletter! The well-known company MicroStrategy, whose business model largely consists of investing in cryptocurrencies, may now face a lawsuit against the District of Columbia, where the US capital Washington is located. He wants to bring charges against the IT company for tax fraud.

legal proceedings

CEO Michael Saylor has become one of the most recognizable faces in the crypto market in recent years. He is considered one of the biggest bulls for Bitcoin. Saylor immediately released a statement in which he clearly rejects the allegations from Washington and is confident that a court settlement can be reached. This legal dispute is likely to remain an exciting topic in the coming weeks.

Do you want to avoid tax difficulties with cryptocurrencies? Check out our guide to crypto treasure!

What can we take away from today?

Unfortunately, today’s crypto newsletter has little good news from the crypto market. The bear market continues to keep prices in check. In addition, two major crypto companies had to announce bad news.

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