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This Company Holds 8,100 Bitcoins – And It’s NOT MicroStrategy or Tesla
Galaxy Digital Holdings has strengthened its position in the cryptocurrency market by acquiring a substantial amount of Bitcoin. Despite recent fluctuations in the market, Galaxy Digital’s decision to hold onto its holdings may prove to be a savvy move as the king coin continues to trade above six digits.
According to the latest data from Bitbo, the company now holds approximately 8,100 Bitcoins. This significant increase in holdings highlights Galaxy Digital’s commitment to investing in digital assets and further solidifies its position as a key player in the blockchain technology and digital asset management space.
Notably, the company’s decision to withdraw 200 Bitcoins valued at approximately $21.31 million from Bybit and transfer them to Marathon Digital’s cold wallet coincided with Bitcoin’s recent rally. The cryptocurrency surged past the $100,000 milestone before stabilizing, trading at $103,737.75 as of press time.
Despite slight corrections, Galaxy Digital remains optimistic about Bitcoin’s prospects. Interestingly, the company’s CEO, Michael Novogratz, has previously expressed confidence in its long-term potential, stating that “Bitcoin is going to $500,000”.
The developments come amidst a growing trend among prominent corporations embracing cryptocurrency as a strategic asset. MicroStrategy continues to lead the charge with an unmatched 439,002 Bitcoins valued at $46.9 billion. Marathon Digital Holdings and Riot Platforms also trail behind with 40,435 and 16,728 BTC respectively.
Tesla’s holding of 9,720 BTC worth $1.04 billion is also worthy of note, having previously utilized Bitcoin as both an investment and a payment method.
Source: ambcrypto.com
