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Riot Platform Acquires 667 BTC, Boosting Holdings to 17,429 Tokens
In a significant development in the cryptocurrency space, Riot Platform has made another major purchase of Bitcoin, acquiring an impressive 667 new tokens. This move brings the company’s total holdings to a staggering 17,429 tokens, currently valued at $1.8 billion based on the current market price of BTC of $103,873.
According to the latest information available, this acquisition was made possible due to the additional proceeds from Riot’s upsized $594 million, 0.75% coupon convertible bond issue. The company disclosed that it purchased the tokens on December 12-13 at an average price of $101,135 per BTC.
It is worth noting that this move follows a similar acquisition made by Riot earlier, where the company acquired 5,117 BTC at an average price of $99,669 per BTC, inclusive of fees and expenses. This decision highlights the ongoing interest in Bitcoin and its potential for growth in the future.
The acquisition has resulted in an impressive yield per share of 36.7% QTD and 37.2% YTD. The company’s willingness to invest in Bitcoin demonstrates its commitment to the cryptocurrency market, despite the highly volatile nature of the space.
This significant move by Riot Platform serves as a testament to the ongoing interest in Bitcoin from major industry players. It is crucial for investors to stay updated on such developments and adjust their portfolios accordingly.
Source: coinpedia.org
