A cryptocurrency exchange, Bitfinex, has disclosed that it holds Bitcoin as a long-term investment on its balance sheet, but they have not revealed the specific amount.
Bitfinex’s Chief Technology Officer, Paolo Ardoino, has suggested that exchanges like Bitfinex should reinvest their Bitcoin profits into Bitcoin-related technologies. They support initiatives like the Lightning Network, Liquid Network, and the RGB protocol to improve Bitcoin transactions.
Bitfinex’s sister company, Tether, also holds a significant amount of Bitcoin and plans to invest in Bitcoin regularly. This is noteworthy because not many companies hold Bitcoin on their balance sheets. Some well-known ones like MicroStrategy, Tesla, and Square also hold Bitcoin.
Also Read: Tether Invests Profits In Bitcoin To Strengthen Reserves
The decision by Bitfinex and other companies to hold and invest in Bitcoin reflects growing confidence in the cryptocurrency’s long-term potential and its role in shaping the future of finance.
