- Relai company acquired 13 BTCs worth $1.2 million, boosting its position in the crypto market.
- BTC trades at $98,154.24 with a $1.94 trillion market cap, recalling a 3.95% growth over the past 24 hours.
- Bitcoin trading volume read at $173.75 billion, with changes observed in mid-March and late December.
Swiss digital assets company Relai has grown its holdings by buying 13 Bitcoins worth $1.2 million for its balance sheet. This move observes a special acquisition, backing the company’s ongoing investment in digital assets.
Relai’s Bitcoin Acquisition
Relai, headquartered in Switzerland, has obtained 13 Bitcoin, valued at approximately $1.2 million. The purchase mirrors the company’s commitment to blending BTC into its financial reserves. This purchase was conducted as part of Relai’s strategy to strengthen its position in the crypto market.
The company’s decision to allocate capital to Bitcoin aligns with the trend of corporations embracing digital assets. The purchase stresses the growing endorsement of Bitcoin as a reserve asset among companies.
Bitcoin as a Corporate Asset and Recent Market Trends
Relai’s purchase adds to a list of companies that consider Bitcoin as a store of value. The investment comes after Larry Fink, the chairman and CEO of BlackRock, expressed his stand on digital assets’ position to counter inflation comparing it to gold.
CoinMarket Cap data indicates that Bitcoin is trading at a price value of $98,154.24, with a 3.97% increase over the last 24 hours. Its market cap stands $1.94 trillion, reflecting a 3.95% growth.
Source: CoinMarket Cap
Bitcoin’s fully diluted valuation (FDV) is $2.06 trillion. The circulating supply matches the total supply at 19.79 million BTC, with a maximum cap of 21 million BTC.
According to Coinglass, Bitcoin trading volume reached $173.75 billion at the time of writing. It trading activity exhibits fluctuations throughout the year, with notable peaks observed in mid-March and late December.
Source: Coinglass
Volumes remained comparatively stable from September through October, with smaller surges. The data indicates heightened market activity, with occasional volume spikes surpassing $200 billion. This consistent activity recalls strong engagement among market participants. The observed volume trends correlate with increased market movement, showing the intensity of trading within key periods.
Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
