UK-based crypto fund snaps up $250m in Bitcoin as public firms boost their treasuries – DL News
- Abraxas Capital withdrew 2,949 Bitcoin from exchanges last week.
- Strategy and Semler are still growing their Bitcoin treasuries.
A London-based digital asset fund has withdrawn nearly 3,000 Bitcoin from exchanges over the past four days, adding to a trend of companies boosting their holdings while prices are depressed.
The wallet, linked to UK investment firm Abraxas Capital, was flagged by blockchain analytics platform Lookonchain after pulling 505 Bitcoin worth roughly $43 million off Binance in a single transaction this week.
In total, the fund has accumulated 2,949 Bitcoin, worth over $250 million, since April 15.
Onchain data from Arkham shows the Abraxas wallet has seen varying inflows and outflows over time, peaking at 7,800 Bitcoin…
