Phunware has announced that it has acquired additional Bitcoin worth $6.20M in cash. Read on to find out about Phunware and the same.
What is Phunware?
Phunware is a software company based in Australia which was founded in 2009. Luan Dang and Alan Knitowski are the brains behind the company. Moreover, it is an enterprise and a platform for solutions, products and services, and data for various brands across the world to engage customers contextually.
Therefore, the brands can get the appropriate content for their customer at the perfect time and place with this platform. It is also the developer of MaaS (Multiscreen-as-service). Its SDKs (Software Development Kits) include messaging, loyalty, location-based series, and analytics.
According to the Phunware website, it
“provides a fully-integrated enterprise cloud platform for mobile that drives customer satisfaction and revenue.”
It promises to offer your customers a memorable engagement. Furthermore, it delivers these engaging messages before, during or even after your customer visits the platform. The other things a brand can get from this platform range from customer understanding, getting to the most targeted audience and even having rewards for them.
This platform aids numerous brands globally in the creation of category-defining mobile experiences. Approximately around 1 billion active devices visit the platform every month. Therefore, Phunware is here to help transform how the consumers and brands interact with mobile in both physical and virtual worlds.
Phunware Buys Additional 100BTC
Earlier today, Friday 5th November, Phunware announced that it had bought another 100BTC. This amount is approximately worth $6.20 Million in cash. It was purchased at an average price of $62,030 for each bitcoin. Also, it is inclusive of all the fees and expenses.
Moreover, this purchase has given its shares a 0.2% rise in premarket trading. Interestingly, by around 4th November, Phunware owned 127 bitcoin, obtained for a cash amount of $7.75, and this was at an average price of a single bitcoin going for $61,238.
Last month, there was an increase in the company’s stock. This was the same thing that happened to a special-purpose acquisition company, SPAC. The adoption of this cryptocurrency keeps growing as many companies and individuals keep embracing it.
The Results?
Since the purchase PHUN shares have risen to 1.9% in the pre-market prices. In total the company now holds an aggregate of ~127 BTC. It is also accepting payment for personal computers in Bitcoin.
What Does This Imply?
The announcement made by Phunware about purchasing additional 100 Bitcoins has certain implications. It implies a rise in the company’s stock. This is some good news.
Additionally, Bitcoin is going to grow tremendously if major companies start transacting majorly with it. For instance as of October 29th Phunware has been accepting Bitcoin for Lyte personal computers. Remember, Phunware deals with the world’s most respected brands. Most of these brands have complete interests in the day-to-day acts of PHUN, there it is likely for most of them to purchase Bitcoin leading to tremendous growth.
The Good News
The purchase has good implications for Phunware, it implies a rise in the company’s stock. As of now the company shares have increased in price compared to the premarket trading. Most great companies are showing interest in Bitcoin, which might be in the long a great growing change for crypto.