Oracle Shares Drop 6% as Company Silent on Bitcoin Rumors

2021-3-12 16:23

Oracle, the computer technology company, silent on rumors that it was planning to buy big into Bitcoin, disappointing BTC enthusiasts.

The rumors about a possible big buy from the company have been making the rounds since February. It was thought that Oracle was planning a 72,000 Bitcoin buy-in which it would announce on Wednesday as part of its quarterly earnings call with investors. 

Bitcoin enthusiasts had been hoping that a big institutional investment from Oracle would be the event to push BTC over the $60,000 mark. 

In the call, CEO Safra Catz and Oracle co-founder Larry Ellison didn’t mention Bitcoin during its quarterly earnings announcement. 

Ellison rather focused on the growth of database software into 2022. 

“I’m not really ready to disclose our plans as to why I think it’s going to suddenly spike, but we expect very, very rapid database growth next year,” he told CNBC. 

Social Media Links Silence with Market Drop 

The investment in a possible Oracle buy is not surprising as big buy-ins from other institutions are coming in. MicroStrategy and Grayscale have been making a case for buying Bitcoin, in addition to Square and Tesla, who made huge investments recently.

Those waiting on the announcement quickly correlated the disappointing silence on Bitcoin with Oracle’s sudden 6% drop in its share price on Thursday, March 11. Twitter users called Oracle’s lack of position disappointing or speculated that the company is waiting for a dip. 

The low quarterly earnings announced by Ellison on Wednesday likely resulted in this sharp decline. It is doubtful that Bitcoin’s correlation with Oracle is high at the moment.

Bitcoin Price Dips As Well

At the same time, BTC fell overnight on Wednesday from just above $55,000 to $53,000, following Oracle’s silence. 

This fall didn’t last long, with the coin rebounding back to a high of $57,841 today, not quite pushing back to the all-time high of over $58,000. Currently, BTC is trading around the $55,000 range. 

The post Oracle Shares Drop 6% as Company Silent on Bitcoin Rumors appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin & Company Network (BITN) на Currencies.ru

$ 3.4E-5 (-0.68%)
Объем 24H $0
Изменеия 24h: 7.68 %, 7d: 5.02 %
Cегодня L: $3.4E-5 - H: $3.4E-5
Капитализация $0 Rank 3624
Доступно / Всего 0 BITN

rumors oracle bitcoin company buy-in announce call

Источник: beincrypto.com

rumors oracle → Результатов: 3


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

На Филиппинах протестировали банковские переводы в цифровой валюте ЦБ

Главный финансовый регулятор Филиппин заявил, что участвующие в пилотном проекте под названием Agila финансовые учреждения завершили тестирование взаиморасчетов в оптовой цифровой валюте центрального банка. 

Pyth Network expands DeFi reach with crypto redemption rate feeds

Pyth Network, a top oracle network, has expanded its reach within the decentralized finance market with a new feature dubbed Redemption Rate Feeds. Announced on Oct. 24, the redemption rate feeds, or RRF, provide real-time valuations for liquid staking tokens,…

DIA unveils ‘Lumina’ to disrupt trustless oracle networks

Decentralized Information Asset (DIA), a trustless oracle network, has unveiled its new oracle architecture, “Lumina,” according to a Sept. 11 statement shared with CryptoSlate. Lumina DIA co-founder Paul Claudius stated: “The new design of our architecture is a paradigm shift for oracles and its users that addresses previously accepted shortcomings in the industry.

Chainlink (LINK): The Google Equivalent In The Crypto World?

In an in-depth research report by Jake Pahor, a Web3 researcher and analyst, Chainlink (LINK) is compared to Google in the cryptocurrency space.   This analysis sheds light on how Chainlink is “revolutionizing” the industry, driving institutional adoption, and shaping the decentralized future.