Streaming platform Angel Studios bought $10,6 million worth of bitcoins
The company invested in cryptocurrency to diversify income
03.05.2022 - 15:05
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What’s new? The streaming platform Angel Studios bought $10,6 million worth of bitcoins in October 2021. The company filed a declaration with the US Securities and Exchange Commission (SEC) documenting this information.
How did the events develop? In October 2021, the company sold 1 685 392 units of its Class A common shares at an average price of $9,28 apiece, choosing to put some of the proceeds into bitcoin.
What is known about Angel Studios? The company positions itself as a movie studio different from the Hollywood giants. It helps producers connect with viewers to create projects that are interesting to the community. With the platform, viewers can direct the creation and distribution of content.
What happened before? In early April, MicroStrategy’s subsidiary, MacroStrategy, bought 4167 bitcoins for $190,5 million (at the exchange rate of $45 714).
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