news 
Galaxy Digital Holdings has recently made a significant acquisition in the form of approximately 8,100 Bitcoins, marking a substantial addition to its existing portfolio. The company’s impressive crypto holdings have sparked interest among investors and observers alike.
According to recent reports from Bitbo, Galaxy Digital now holds an astonishing 8,100 Bitcoins, making it one of the largest institutional holders of the digital asset. The news comes as no surprise given the company’s long-standing commitment to investing in blockchain technology and digital assets.
Despite this substantial acquisition, the company’s stock price remains unaffected, trading at a press time value of $20.02 after a modest 3.36% drop. Interestingly, Galaxy Digital recently withdrew 200 Bitcoins from Bybit and transferred them to Marathon Digital’s cold wallet, as reported by The Data Nerd on X (formerly Twitter). This development coincided with Bitcoin’s recent rally.
The king coin has been trading above the $100,000 mark, reaching a new high of $107,000 before stabilizing. At press time, it was valued at $103,737.75, representing a 2.64% increase over the past 24 hours.
It is worth noting that Galaxy Digital’s CEO, Michael Novogratz, has expressed confidence in Bitcoin’s long-term potential, stating that he believes it will reach $500,000. This sentiment aligns with the company’s overall approach to investing in the digital asset.
As more and more institutions begin to invest in Bitcoin, Galaxy Digital is set to carve out its own niche as a leading player in this space. It is no surprise then that other companies are following suit, as we see institutional investors like MicroStrategy and Tesla making substantial investments of their own.
MicroStrategy, which began its crypto journey back in 2020, now holds an impressive 439,002 Bitcoins, valued at approximately $46.9 billion. Marathon Digital Holdings and Riot Platforms follow closely behind with holdings of 40,435 and 16,728 BTC respectively.
It is clear that the institutional investment landscape for Bitcoin has shifted significantly over the past year or so.
Source: ambcrypto.com
