A digital entertainment company, Fragbite Group AB listed in the European Union has announced its 1st buy of Bitcoin, on July 22, 2025 the company said it has bought 4.3 BTC. The purchase of each Bitcoin is done at an average price of $112,958 per coin.
Over time, several other companies have expressed their plan to invest in digital assets such as Bitcoin, Ethereum, and BNB, including others.
In an X post dated July 22, 2025, Fragbite Group, “ First purchase completed 4.3 bitcoin at an average price of app. USD 112,958 / bitcoin marks the start of operations under the newly established Bitcoin Treasury.”
First purchase complete 4.3 bitcoin at an average price of app. USD 112 958 / bitcoin marks the start of operations under the newly established Bitcoin Treasuryhttps://t.co/bwPYv8e2SD$FRAG pic.twitter.com/o2vbP95vAK
— Fragbite Group (@FragbiteGroup) July 22, 2025
Following this development, Patrik von Bahr, Bitcoin Treasury Director at Fragbite Group, said, “ We are both pleased and excited to have officially pressed the start button for our Bitcoin Treasury strategy. With this first allocation of liquidity to bitcoin, the Company has taken its place as an early pioneer in a revolutionary industry and taken an important step towards positioning Fragbite Group as an active player in the paradigm shift currently facing the financial world.”
According to the press release dated July 22, 2025, the aim to introduce Bitcoin to the balance sheet reflects Fragbite’s belief in its potential as a long-term value preserver and strategic asset for the company’s future growth.
This purchase of Bitcoin marks the start of operation under the newly established Bitcoin Treasury with the objective of carrying out long-term investment of surplus liquidity and continuously accumulating BTC to strengthen the balance sheet of the company.
A quick update on Bitcoin prices
According to the data from CoinMarketCap, Bitcoin is currently trading at $119,116 with a weekly addition of 2.59% and in the past 30 days, its price has grown by more than 15%.
Over the past few weeks, Bitcoin has continued to follow a path towards, and has recently attained an all-time high at $123,091. This mark has sparked the debate of BTC soon acquiring a new ATH at $125,000.
The data available on TradingView states that Bitcoin’s trading prices grew more than 27% in the past three months and are up by 74.83% in the past 52-week time frame. In the weekly time frame, the nearest visible resistance level is $124,935, followed by $151,632.
However, in the same frame, its support levels are $81,700, yet experts believe Bitcoin has already reached the $80k zone and it has established its sitting point above $100k after several corrections, and now there is a lower chance of BTC failing below $90k or below.
