With Bitcoin Heading for Its Worst Month in Three Years, Bitdeer Steps in to Buy the Dip

Bitdeer Boosts Bitcoin Holdings as Crypto Market Nosedives

Bitdeer Technologies (BTDR) has increased its Bitcoin reserves, purchasing 50 BTC as the leading cryptocurrency faces its worst monthly performance since June 2022.

The Bitcoin mining firm disclosed that it acquired the new holdings at an average price of $81,475 per BTC. With this latest purchase, Bitdeer’s total Bitcoin treasury now stands at 855 BTC, valued at approximately $69 million, according to Bitcoin Treasuries data.

Despite the accumulation, Bitdeer’s stock dipped 0.64% at market open, trading just below $11. Meanwhile, Bitcoin and the broader crypto market saw a 4% decline over the past 24 hours. However, as U.S. trading kicked off, BTC saw a modest recovery, climbing above $82,000.

  • Related Posts

    Circle’s 100% monthly rally puts it at the center of crypto’s hottest stablecoin trade—here’s what’s driving it.

    Circle Stock Soars as USDC Adoption and Macro Trends Drive Gains Shares of Circle have surged more than 100% over the past month, positioning the stablecoin issuer as one of…

    Continue reading
    Bitcoin Spikes Above $74K as Ether, Solana and Cardano Lead Altcoin Gains of Up to 6%

    Bitcoin briefly climbed above the $74,000 level on Monday, breaking through a resistance zone that had capped gains several times in recent weeks before slipping slightly below that mark. The…

    Continue reading