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Phunware Buys $23.8m Worth of Bitcoin

Investing.com
·1-min read

By Sam Boughedda

Investing.com — Mobile cloud platform company Phunware Inc (NASDAQ:PHUN) told investors Monday that it has acquired a further 398 Bitcoin for approximately $23.8 million.

The company said it bought the BTC at an average price of approximately $59,917.

The acquisition adds to its current Bitcoin stash, bringing the total to around 529 Bitcoin, acquired at an average purchase price of approximately $31.8 million and an average price per Bitcoin of $60,191.

Last week the company announced it will start processing initial issuances of its cryptocurrency, PhunCoin.

Phunware shares are down 8.78%, at $3.38.

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