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This company holds 8,100 Bitcoins – And it’s NOT MicroStrategy or Tesla
Galaxy Digital Holdings has quietly been amassing a significant Bitcoin (BTC) stash. The asset management firm has reportedly accumulated approximately 8,100 Bitcoins, making it one of the largest institutional holders in the market.
In recent updates, Galaxy Digital withdrew 200 Bitcoins valued at around $21.31 million from Bybit and transferred them to Marathon Digital’s cold wallet. This move coincided with Bitcoin’s recent rally, which saw the cryptocurrency cross the $100,000 milestone and peak at $107,000 before stabilizing at around $103,737.75.
Despite this substantial acquisition, Galaxy Digital’s stock price remains unaffected, trading at a press time value of $20.02 after a 3.36% drop. The company’s CEO, Michael Novogratz, has previously expressed confidence in Bitcoin’s long-term potential and stated that it will reach $500,000.
Galaxy Digital’s significant investment in BTC highlights the growing trend among institutions to adopt cryptocurrencies as a strategic asset. This shift is reflected in the increasing adoption of Bitcoin by prominent corporations like MicroStrategy, which holds an unmatched 439,002 Bitcoins valued at $46.9 billion. Other notable institutional investors include Marathon Digital Holdings and Riot Platforms, with holdings of 40,435 BTC and 16,728 BTC respectively.
Tesla, which has previously invested in Bitcoin as both a store of value and a payment method, also stands out with its substantial holding of 9,720 BTC worth $1.04 billion.
The institutional acceptance of Bitcoin is redefining the cryptocurrency’s role in corporate strategies, further solidifying its position as a cornerstone of modern finance.
Source: ambcrypto.com
