Cryptocurrency

Bitcoin

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Light

<p><strong>Crypto enthusiasts got a glimpse of Bitfinex’s bullish strategy on Bitcoin.</strong></p> 
<h2 style="text-align: center;" id="bitfinex-s-faith-in-bitcoin-revealed">Bitfinex’s Faith in Bitcoin Revealed</h2> 
<p>Bitfinex, a prominent cryptocurrency exchange, has recently <a href="https://www.theblock.co/post/248984/bitfinex-bitcoin-balance-sheet" target="_blank" rel="noopener noreferrer nofollow">unveiled its long-term investment strategy</a> involving Bitcoin (BTC). This decision emphasizes the platform’s trust in the pioneering cryptocurrency. While specific figures are not disclosed, the move signals Bitfinex’s steadfast commitment to Bitcoin’s potential.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Have you ever wondered what it takes to stand tall in the world of <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> for over 11 years? 🌟</p> 
 <p>Next week, we’re launching a series of articles exploring the resilience of <a href="https://twitter.com/hashtag/Bitfinex?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitfinex</a> and the journey we’ve taken. Get ready to delve deep into our story! 📚<a href="https://twitter.com/hashtag/ResilienceIsKey?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ResilienceIsKey</a> <a href="https://t.co/KpXmbAwysG" rel="noopener noreferrer nofollow">pic.twitter.com/KpXmbAwysG</a></p> 
 <p>— Bitfinex (@bitfinex) <a href="https://twitter.com/bitfinex/status/1697685896080785795?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 1, 2023</a></p> 
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 style="text-align: center;" id="support-for-bitcoin-reinvestment">Support for Bitcoin Reinvestment</h2> 
<p>Paolo Ardoino, Bitfinex’s Chief Technical Officer (CTO), took to Twitter to advocate for cryptocurrency exchanges to reinvest a portion of their profits back into Bitcoin. Bitfinex’s proactive stance aligns with this idea, showcasing its dedication to the digital currency.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Cryptocurrency exchanges, that hugely benefitted from <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> , should have a policy to reinvest part of the profits into <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> .<br> That’s what we do at <a href="https://twitter.com/bitfinex?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@bitfinex</a><br> LN, RGB, Liquid, …</p> 
 <p>— Paolo Ardoino 🍐 (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1698346253396881518?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 3, 2023</a></p> 
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<p>&nbsp;</p> 
<h2 style="text-align: center;" id="contributions-to-bitcoin-layer-2-networks">Contributions to Bitcoin Layer 2 Networks</h2> 
<p>Bitfinex actively supports Bitcoin Layer 2 networks, such as the Lightning Network and the Liquid Network. Additionally, the exchange is making progress in implementing the RGB protocol, enabling more cost-effective and private transactions. This protocol also simplifies the process of token issuance on the Bitcoin network.</p> 
<h2 style="text-align: center;" id="first-time-revelation-of-bitcoin-holdings">First-Time Revelation of Bitcoin Holdings</h2> 
<p>This recent announcement marks the first time Bitfinex’s ownership of Bitcoin on its balance sheet has come to light. Interestingly, Tether, a sister company to Bitfinex and a well-known stablecoin issuer, holds the 11th position globally in terms of Bitcoin holdings.</p> 
<h2 style="text-align: center;" id="tether-s-bitcoin-allocation-strategy">Tether’s Bitcoin Allocation Strategy</h2> 
<p>Earlier this year, Tether revealed its intention to allocate up to 15% of its profits towards Bitcoin investments. This shift aligns with Tether’s strategy to transition its reserves from U.S. government debt to cryptocurrency holdings. Currently, Tether’s Bitcoin holdings amount to an impressive $1.6 billion.</p> 
<h2 style="text-align: center;" id="exclusive-list-of-bitcoin-holders">Exclusive List of Bitcoin Holders</h2> 
<p>Only a select few companies, including Bitfinex and Tether, have chosen to hold Bitcoin on their balance sheets. Notable names like MicroStrategy, Tesla, and Square also feature on this exclusive list.</p> 
<h2 style="text-align: center;" id="bitfinex-s-collaborative-initiative">Bitfinex’s Collaborative Initiative</h2> 
<p>Bitfinex recently formed a partnership with Vakıfbank, a prominent Turkish bank. This collaboration aims to provide low or zero-cost deposit transactions for Turkish customers, facilitating direct Turkish Lira deposits into Bitfinex accounts without any additional fees.</p> 
<h2 style="text-align: center;" id="positive-market-trends-for-bitcoin">Positive Market Trends for Bitcoin</h2> 
<p>Bitcoin currently exhibits a bullish trend, with a modest 0.13% price increase. Its price range rests between a support level of $25,736.47 and a resistance level of $26,087.14. Market analysts predict continued positive momentum, supported by a significant 30.56% surge in Bitcoin’s trading volume, now standing at $10.57 billion.</p> 
<h2 style="text-align: center;" id="summary">Summary</h2> 
<p>Bitfinex’s recent disclosure of its strategic Bitcoin holdings underscores its belief in the enduring value of the cryptocurrency. This proactive stance aligns with Chief Technical Officer Paolo Ardoino’s call for crypto exchanges to reinvest profits into Bitcoin. As Bitfinex pioneers advancements in Bitcoin Layer 2 networks and token issuance, its <a href="https://walletinvestor.com/magazine/bitfinex-empowers-women-in-tech-with-penguin-academys-coding-bootcamp" target="_blank" rel="noopener noreferrer nofollow">commitment</a> to the digital currency ecosystem remains evident. Alongside sister company Tether’s shift towards allocating profits to Bitcoin, Bitfinex contributes to a select group of companies holding Bitcoin on their balance sheets, while the overall market outlook for Bitcoin remains positive.</p>

Bitfinex’s Strategic Bitcoin Holdings: A Move Towards Crypto Investment

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