Norway-based crypto brokerage K33 makes its first Bitcoin purchase.
The firm now holds a total of 10 BTC as part of Bitcoin Treasury strategy.
They aim to accumulate a total of 1,000 BTC.
Crypto adoption continues to grow, and Bitcoin (BTC) is at the lead. A Norway-based crypto brokerage K33 makes its first Bitcoin purchase. The firm now holds a total of 10 BTC as part of its Bitcoin Treasury strategy. Furthermore, K33 reveals that they have a greater BTC accumulation plan and are working towards accumulating 1,000 in total on their balance sheet, marking another bullish sign for the pioneer crypto asset and its price.
K33 Makes its First Bitcoin Purchase
In comparison to the last bull cycle, Bitcoin accumulation has grown by a significant amount. For instance, in 2020, before the price of BTC began to pump and before the crypto market entered a bull run, El Salvador’s President, Nayib Bukele, made a revolutionary announcement. To highlight, Bukele announced that the nation would make Bitcoin a legal tender, and was the first major entity to start accumulating BTC.
Following his lead, several other governments began to accumulate Bitcoin as well. Eventually, El Salvador began to mine Bitcoin ethically using the geothermal power of its volcanoes. Since then, El Salvador has reaped many Bitcoin profits and has used the funds to improve the standard of living within the nation. Despite efforts to slow down its accumulation drive, El Salvador continues to buy Bitcoin to this day.
Heavy BTC Accumulation Sparks Higher BTC ATH Price Arrival
Another revolutionary move was Michael Saylor’s Strategy, beginning to accumulate Bitcoin, signaling the arrival of financial institutions in the BTC accumulation race. Now, giant asset managers like BlackRock have begun accumulating BTC since this bull cycle. In fact, some institutions have been heavily accumulating ETH as well. Presently, the latest addition to join the BTC accumulation bandwagon is K33.
https://twitter.com/Cointelegraph/status/1930104739720556650
As we can see from the post above, the Norway-based crypto brokerage K33 has made its first Bitcoin purchase. Presently, the firm holds a total of 10 BTC as part of its Bitcoin Treasury strategy. Next, the firm aims to accumulate a total of 1,000 BTC on its balance sheet, showing other institutions that have yet to hold Bitcoin (BTC) that it is never too late to start accumulating Bitcoin.
So far, several crypto analysts have shared their expectations for the price of Bitcoin (BTC) to soar up to incredibly high ATH targets for BTC this bull cycle. These predictions go as high as $250,000 and $350,000, if not higher. Many have stated that as long as more institutions hold BTC, and as far as those holding will continue to accumulate, then BTC going as high as even $500,000 may not be s stretch for Bitcoin this bull cycle.
