Galaxy Digital Holdings, a prominent asset management firm, has significantly increased its Bitcoin holdings. The firm recently moved 200 Bitcoins, worth $21.31 million, from Bybit to Marathon Digital’s cold wallet. This move underscores their confidence in Bitcoin's long-term potential, particularly in light of CEO Michael Novogratz's previous statements. Galaxy Digital now boasts an impressive 439,002 bitcoins, valued at $46.9 billion, far exceeding other institutional holders like Marathon Digital Holdings and Riot Platforms. This trend highlights Bitcoin's growing importance in corporate finance strategies.
Galaxy Digital Holdings, a leading asset management firm, has established itself as a key player in blockchain technology and digital assets.In fact, recently, the firm withdrew 200 Bitcoins, valued at approximately $21.31 million, from Bybit and transferred them to Marathon Digital’s cold wallet, as reported by The Data Nerd in the latestThis reflected a 2.64% increase over the past 24 hours.
Trailing behind are Marathon Digital Holdings and Riot Platforms, with 40,435 and 16,728 BTC respectively, highlighting the immense gap in holdings. Tesla, with 9,720 BTC worth $1.04 billion, also stands out, having previously embraced Bitcoin as both an investment and a payment method. This institutional embrace underlines Bitcoin’s pivotal role in corporate strategies, reinforcing its position as a cornerstone of modern finance.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
Technology BITCOIN INSTITUTIONAL INVESTMENT BLOCKCHAIN GALAXY DIGITAL HOLDINGS CRYPTOCURRENCY
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