Strategy (MSTR) Buys $1.3 Billion Worth of Bitcoin, Ripple Secures Major Partnership, SBI Offers XRP Rewards to Investors — Top Weekly Crypto News

Strategy (MSTR) buys $1.3 billion worth of Bitcoin

Strategy has significantly expanded its digital asset treasury, acquiring 17,994 Bitcoin for approximately $1.28 billion.

Strategy has extended its relentless Bitcoin (BTC) buying spree by purchasing an additional $1.28 billion worth of Bitcoin. This comes after Michael Saylor, the company’s executive chairman, teased the purchase on Thursday.

According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the corporate intelligence and software firm acquired 17,994 Bitcoin (BTC) between March 2 and March 8. Its average purchasing price was $70,946 per BTC.

With this latest purchase, Strategy’s total aggregate Bitcoin holdings have reached a staggering 738,731 BTC. During the same March 2 to March 8 window, the company raised approximately $1.276 billion in net proceeds through the sale of both common and preferred stock.

Mastercard expands blockchain push with Ripple and CBDC partners

Ripple joins forces with payment giant Mastercard to enable the seamless use of CBDCs as money.

Global payment giant Mastercard is pushing further in its collaboration with Ripple as regards its commitment to facilitating the development of digital dollars, also dubbed CBDCs. In a recent presentation revealed on X, Mastercard showcased its growing list of blockchain partners, which include Ripple, Binance, Consensys, PayPal and many others.

While the renowned payment firm has remained keen on facilitating and exploring blockchain payments, its collaboration with the companies targets helping central banks and financial institutions to seamlessly experiment with digital currencies. 

The presentation displayed on a wide screen highlighted Mastercard’s unwavering commitment to making CBDCs as easy to use as money as the firm pushes for practical testing and real-world deployments among financial institutions. As Mastercard remains keen on exploring blockchain-based payments, it has specifically partnered with Ripple, Consensys, Fluency and Fireblocks to effectively execute the initiative.

XRP Bollinger Bands squeeze signals potential breakout

XRP volatility is brewing and might fuel the $2 retest if bullish signals are sustained.

XRP’s Bollinger Bands are contracting around $1.38. This classic squeeze pattern suggests that the price is consolidating in a narrow range, and a big move might happen soon. Notably, when the Bollinger Bands squeeze this close, it signals that XRP’s price could move as volatility is likely to increase. Such a squeeze usually precedes a strong market move for an asset in the crypto space.  

Despite the price dip, trading volume has climbed by 14.22% to $2.89 billion. This suggests increased accumulation on the part of investors amid exchange outflows.

SBI Holdings to provide XRP rewards to investors

Japan’s largest financial institution, SBI Holdings, has continued to expand its XRP-based reward program to accommodate multiple companies under its group.

On Friday, March 13, the SBI Holdings CEO, Yoshitaka Kitao, revealed that the company has extended its XRP reward program to SBI ARUHI, a publicly listed company under SBI Group, providing mortgaging services.

While SBI Holdings had recently announced the launch of a 2026 shareholder benefit program that allows investors to receive XRP as rewards, the move marks an expansion of the program.

The move takes SBI further in achieving its aim to integrate blockchain technology with the traditional banking system as it had embarked on a mission to issue a $64.5 million blockchain-based bond to allow investors to earn rewards in XRP.

Brian Armstrong and Coinbase execs deny lobbying against Bitcoin

Coinbase executives, including CEO Brian Armstrong and Chief Policy Officer Faryar Shirzad, have strongly pushed back against recent allegations claiming the crypto exchange is actively lobbying against a crucial tax exemption for Bitcoin in order to boost its own stablecoin revenues.  

The controversy erupted on X (formerly Twitter) on Wednesday, with high-profile industry of the likes of billionaire Jack Dorsey joining the fray. 

Some Bitcoin supporters have alleged that Coinbase has been quietly telling Washington lawmakers that a de minimis tax exemption for Bitcoin is unnecessary and would be “DOA” (dead on arrival) because “no one is using Bitcoin as money.”  

A de minimis tax exemption is widely considered the holy grail for Bitcoin adoption as a medium of exchange. If passed, it would eliminate capital gains taxes and IRS reporting requirements on everyday cryptocurrency transactions. Buying coffee, for instance, would no longer be a taxable event.