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This company holds 8,100 Bitcoins – And it’s NOT MicroStrategy or Tesla
Galaxy Digital Holdings, a leading asset management firm, has made significant strides in its Bitcoin holdings. According to the latest data from Bitbo, the company now reportedly holds approximately 8,100 Bitcoins [BTC]. This substantial holding further solidifies Galaxy Digital’s position as a key player in the blockchain technology and digital assets space.
Despite this development, Galaxy Digital’s stock price remains unaffected, trading at $20.02 after a 3.36% drop. Interestingly, the company recently withdrew 200 Bitcoins, valued at approximately $21.31 million, from Bybit and transferred them to Marathon Digital’s cold wallet. This coincides with Bitcoin’s recent rally, as the king coin crosses the $100,000 milestone.
Galaxy Digital’s CEO, Michael Novogratz, has expressed confidence in Bitcoin’s long-term potential, stating that it is poised to reach $500,000 in value. The firm’s optimism towards the cryptocurrency is further reinforced by its latest actions.
Other companies are also making their move into the crypto market. MicroStrategy, a pioneer in institutional cryptocurrency investment, holds an unmatched 439,002 Bitcoins, valued at $46.9 billion. Marathon Digital Holdings and Riot Platforms are not far behind, holding 40,435 and 16,728 BTC respectively. Tesla, having previously adopted Bitcoin as both an investment and payment method, also stands out with its holdings of 9,720 BTC worth $1.04 billion.
This institutional acceptance underscores the growing importance of Bitcoin in corporate strategies, solidifying its position as a cornerstone of modern finance.
Source: ambcrypto.com
