Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Digital Asset Company Bit Digital has turned its strategy of enterprise treasury from Bitcoins to Ether and said it reflects its belief that Ethereum “overwrites the entire financial system”.
Bit Digital took advantage of the revenues of the recent offer of $ 172 million, along with the resources from the sale of 280 bitcoins (BTC), to obtain ether (Eth), a company published Monday.
At the end of the first quarter, Bit Digital held 24 434 ETH – a position that has since grown to 100 603 ETH. The shares of the company trading under the BTBT symbol have increased by more than 29%in the reports, returning its market capitalization over $ 1 billion.
This shift makes Bit Digital the second largest holder of ETH, while Coingecko is only Coinbase Global, which holds a larger share of digital asset data.
Cointlelegraph informed about Digital’s Public Bit offers and Ether Pivot 27th June, but since 2022 the company accumulates and planted ETH.
The Bit Digital CEO Sam Tabar said that the company “associates with the long -term Ethereum potential and stands up as a focused platform of treasures on public markets” with the plans to become the “most important ETH holding company in the world”.
Related: Vitalik suggests gas closure to increase Ethereum safety, stability
The Crypt Strategy of the Treasury will gain traction
Crypto Crypto Treasury Strategy This year they gained dynamics, although most activities focused on accumulation and holding bitcoins.
Last month alone, at least 21 BTC entities added to its balance sheets according to industrial data. The largest holder of the company, strategy (MSTR), collected 597 323 BTC.
However, some analysts have worried that the Strategy of the Ministry of Finance is played, especially for companies that lack a strong basic business or a clear plan for managing their BTC shares.
In addition to bitcoins, the treasury strategy crypto is much less common. According to Bloomberg, one new society Plans to get $ 100 million accumulate binance’s bnb (BNB), a movement that reflects the bitcoin treasury model of the strategy.
The institutional interest in Ethereum has remained relatively subdued, judging by the influx into the ETH funds since its approval last year. However, the tide may begin to rotate, with us Ether funds recording the tide seven consecutive weeks.
Related: Circuit reveals the recovery system to solve the puzzle “permanent loss” of crypt
