Anchorage Digital Bags $1.19B in Bitcoin Corporate Buyups Grow

Anchorage Digital, the first firm to launch a GENIUS-approved stablecoin , recently received a large inflow of Bitcoin (BTC) totaling over $1.19 billion. According to data from blockchain intelligence firm Arkham, the transaction lasted about nine hours, and about 10,000 BTC was moved. This movement shows how regulated crypto banks are becoming key players in managing large digital asset transfers. It reflects their growing importance to corporate and institutional clients. Anchorage Digital and Institutional Crypto Services Anchorage Digital, founded in 2017, is the first federally chartered digital asset bank in the U.S. The firm offers services like crypto custody, trading, staking, and settlement for big clients. The recent transfer of over 10,000 BTC to a wallet labeled “Anchorage Digital” highlights the firm’s major role in the crypto space. Meanwhile, it is unclear if the crypto assets moved belonged to Anchorage or its clients. However, the use of several sending wallets points to possible institutional involvement. The transaction shows that large companies still trust Anchorage to manage and secure large crypto transfers. Trusted by Bitcoin Treasury Giants Anchorage Digital has become the preferred custodian for several companies with large Bitcoin holdings. One of the most notable is KindlyMD, which merged with David Bailey’s Nakamoto Holdings earlier this year. The combined entity raised $763 million to buy Bitcoin, naming Anchorage as its exclusive custodian. Other companies like MARA, the biggest public Bitcoin miner, and Nasdaq-listed property tech firm Reitar also use Anchorage for custody services. In 2023, Reitar chose Anchorage as its backup custodian, alongside Coinbase Prime. Institutional Bitcoin Accumulation on the Rise Anchorage’s significant BTC transaction is not the only sign of growing corporate interest in crypto. Blockchain analyst Lookonchain recently revealed that a new wallet tied to “Volcon Gemini Custody” withdrew 3,500 BTC. The withdrawal from a Gemini hot wallet was worth around $414 million. The wallet is believed to be linked to Volcon, an electric vehicle company that recently secured over $500 million in funding. The firm is building a prominent Bitcoin position as part of its corporate strategy. More public companies are starting to treat the flagship crypto as a corporate asset. Firms like Strategy and SharpLink Gaming have raised large amounts of money from public markets to invest in crypto. Over 200 companies now hold digital assets, with a strong focus on Bitcoin. In total, corporate Bitcoin treasury holdings now exceed $91 billion. Strategy led by Michael Saylod leads the pack with 628,791 BTC, more than any other firm in the world. The post Anchorage Digital Bags $1.19B in Bitcoin Corporate Buyups Grow appeared first on TheCoinrise.com .