Nasdaq Firm Bit Digital Dumps Bitcoin, Buys 100K Ethereum

In a surprising decision that goes against the current Bitcoin purchase trend, the company listed at the Nasdaq Bit Digital has thrown Bitcoin for Ethereum. After having collected $ 172 million with investors, the company now wants to become the world’s largest holder in the ETH.

With more than 100,000 eTh already in his hands, Bit Digital wants to go big and wants to accumulate more eth.

Bitcoin in Ethereum Treasury

Bit Digital recently announced that he had sold the 280 BTC of his balance sheet, using the funds to buy Ethereum. But it was only the beginning. The company has also collected $ 172 million thanks to a public offer, and every penny is used to buy more ETH.

Before this major change, Bit Digital had around 24,000 ETH. Now it has more than 100,603 ETH, making it one of the biggest business holders.

The CEO, the CEO, Sam Tabar, says that it is not only for rapid profit. He thinks that the smart contracts of Ethereum, the growing use and the jalitude of awards make it a better bet for the future than bitcoin.

After this announcement, Bit Digital’s action jumped almost 18%, negotiating $ 3.48 and earning more than 73% in just a week.

Others join Ethereum Treasury Club

Meanwhile, Bit Digital is not alone in this change. Bitmin Immersion Technologies recently collected $ 250 million in private to build his own Ethereum treasure, moving away from his previous Bitcoin plan.

Meanwhile, Sharplink Gaming has sparked even more important by buying more than 176,000 ETH for $ 463 million, becoming the largest holder of the public company of Ether so far.

Where is ETH Price Heading?

While Bit Digital doubles its Ethereum vision, the price of the ETH has also increased. Meanwhile, recently, it exceeded $ 2,550 and can target $ 2,650, or even $ 2,800 if the momentum is selected.

However, if he has trouble erasing cleanly $ 2,580, a decline could follow.