US Mobile Software Dev Phunware Puts $23.8M in Bitcoin
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Phunware, Inc., an American mobile software and blockchain company, has purchased an additional 398 bitcoin for an aggregate purchase price of $23.8 million. According to a press release, the company now hodls approximately 529 BTC, which were acquired at an aggregate purchase price of $31.8 million.

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The purchase comes shortly after the company announced the launch of phuncoin (PHCN), a cryptocurrency available on Securitize. Alan Knitowski, President, CEO and Co-Founder of Phunware, says the company's cryptocurrency is an "important first step towards ensuring consumers not only control their data, but also are compensated fairly when their data is purchased by brands."

"As we work to commercialize a truly decentralized data economy, we are thrilled to begin building a market for one of the world's first regulated cryptocurrencies designed for mainstream adoption," Knitowski added.

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Founded in 2009, the Texas-based company is focused not only on mobile software, but also blockchain networks. In October this year, Phunware acquired computer system provider Lyte technology for $10.98 million to support their blockchain research and development efforts.

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