Europe's First Bitcoin Treasury Firm Buys $19.5 Million BTC
According to an official statement, The Blockchain Group has purchased an additional 182 bitcoin (BTC) worth around $19.5 million. The company now holds a total of 1653 BTC valued at roughly $172 million. According to the official statement, the company’s BTC holdings have yielded a 1171.2% profit year-to-date. The Blockchain Group is Europe’s first Bitcoin treasury company. Institutions Hoard Up On Bitcoin Amid Market Dip Source: Watcher.Guru The Blockchain Group is not the only financial institution buying millions of dollars worth of BTC. BlackRock, the world’s largest asset manager, purchased 5,990 BTC worth around $630 million. The increase in purchases comes amid a market-wide correction. Financial institutions may be following the “buy-the-dip” practice. Also Read: Glassnode: 216 Entities Control 30% Bitcoin, Can 25x Market With $1 Bitcoin’s (BTC) price has faced a steep correction over the last few weeks. The original cryptocurrency is down 1....