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Seeking Alpha 2021-03-12 14:10:56

Bitcoin roundup: Beeple NFT sale and a bubble, Microstrategy buys more, price falls back

That the Christie's auction for Beeple's Everydays: The First 5000 Days, backed by a NFT (non-fungible token), was going to be a blockbuster isn't a surprise, but more than $69M? "I believe we are witnessing the beginning of the next chapter in art history, digital art," says Mike Winkleman (Beeple). "Artists have been using hardware and software to create artwork and distribute it on the internet for the last 20 plus years but there was never a real way to truly own and collect it."Winkleman may have a point, but the $69M sale - at a minimum - suggests this isn't a bottom.Microstrategy (MSTR) announces the purchase of another 262 bitcoins (BTC-USD) for $15M - an average price of $57.1K each. The company led by Michael Saylor now owns 91.3K bitcoins acquired at a total cost of $2.21B, or an average price of $24.2K each.Speaking of prices, bitcoin late yesterday made

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