Phunware pops 32% premarket on board authorizing bitcoin purchases

Phunware (PHUN) rallied 32% premarket after its board authorized bitcoin purchases mainly for commercial launch preparation of its blockchain-enabled MaaS Customer Data Platform and MaaS Mobile Loyalty Ecosystem.Subject to application approvals, Phunware plans to release PhunWallet on iOS and Android later this month."We recently completed an initial purchase of 25.8 bitcoin at an average price of $58,133 per bitcoin and are thrilled to actively participate in such a vibrant global market and community alongside Tesla, MicroStrategy, Square and many other corporations and funds worldwide," president & CEO Alan S. Knitowski commented.Recently, the company partnered with BitPay for expanding its corporate benefits package to provide cryptocurrency payroll options for employees, including bitcoin.