In a groundbreaking move, Anchorage Digital has acquired 10,141 BTC worth $1.19 billion, positioning itself ahead of its upcoming stablecoin launch. This strategic acquisition highlights the growing institutional confidence in Bitcoin as a reserve asset.
Anchorage Digital’s $1.19 Billion Bitcoin Acquisition
Anchorage Digital executed a discreet nine-hour operation to accumulate 10,141 BTC, averaging over 1,100 BTC per hour through over-the-counter trades. This approach minimized market impact, with Bitcoin’s price dipping only 0.25% during the week of the purchase.
Strategic Move for Stablecoin Launch
The acquisition aligns with Anchorage Digital’s partnership with Ethena Labs to launch the USDtb stablecoin under the GENIUS Act framework. This positions the firm as a leader in federally compliant digital dollar projects.
Institutional Confidence in Bitcoin
Anchorage Digital’s move reflects a broader trend of institutional players building large-scale Bitcoin positions. The firm’s ability to execute such a significant purchase without major price impact underscores its expertise in institutional-grade crypto markets.
FAQs
How much Bitcoin did Anchorage Digital acquire?
Anchorage Digital acquired 10,141 BTC worth $1.19 billion.
What is the purpose of this acquisition?
The acquisition is part of Anchorage Digital’s strategy to back its upcoming USDtb stablecoin and position itself in the digital dollar innovation space.
How did the market react to this large purchase?
Bitcoin’s price showed minimal volatility, dipping only 0.25% during the week of the purchase.
What is the GENIUS Act framework?
The GENIUS Act is a federal regulatory framework aimed at ensuring compliance and stability in the digital asset ecosystem.
