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

    Polymarket faces a $520K exploit concern on Polygon flagged by ZachXBT, but developers say assets are safe.

    Blockchain investigator ZachXBT has flagged a suspected security incident involving Polymarket, the world’s largest decentralized prediction market, after on-chain data indicated that more than $520,000 was drained from smart contracts…

    Continue reading
    Near Protocol’s move to self-automate growth is powering a rapid spike in its token value.

    NEAR Protocol is set to deploy dynamic resharding in June, an upgrade that will allow the blockchain to automatically scale by adding new shards as demand increases, removing the need…

    Continue reading