Zurich-headquartered Bitcoin trading platform Relai has bolstered its Bitcoin reserves with a purchase of 13 BTC during the Christmas period. The announcement, made on December 26 through the company’s official account on X (formerly Twitter), highlighted the acquisition, valued at approximately $1.24 million based on current market rates.
Relai & Other Companies Continue Bitcoin Buying Spree
As of writing on Thursday, December 27, Bitcoin price was at $95,353.32, reflecting a 3.68% dip in value compared to the prior day. Nonetheless, the ongoing BTC acquisitions could provide the much-needed boost BTC price.
For further contex, Relai, established in 2020 by founders Julian Liniger and Adem Bilican, has positioned itself as a user-friendly Bitcoin trading platform. It operates on a self-custody model, ensuring that customers maintain complete control over their funds.
The app is designed for ease of use, enabling seamless Bitcoin purchases and sales within minutes. As a Swiss-licensed financial service provider, Relai has facilitated over $500 million in trading volume since its inception. In 2024, it was recognized as one of the fastest-growing startups in Europe and consistently ranks among the top 50 startups in Switzerland.
Moreover, this announcement coincides with news from KULR Technology Group, listed on the NYSE American under the ticker KULR, which recently disclosed a significant Bitcoin acquisition. The energy solutions provider acquired 217.18 BTC for $21 million, paying an average price of $96,556.53 per Bitcoin. This transaction aligns with KULR’s newly unveiled Bitcoin Treasury strategy, which aims to allocate up to 90% of the company’s available cash reserves to the cryptocurrency.
KULR has engaged Coinbase Prime to oversee custody services, digital asset security, and self-custodial wallet solutions. Renowned for its expertise in energy storage systems, KULR serves industries like aerospace, defense, and space exploration.
Additionally, MicroStrategy, a corporate leader in Bitcoin investments, also made headlines this week with a purchase of 5,262 BTC valued at $561 million on December 23. With a total holding of 444,262 BTC, MicroStrategy’s consistent acquisitions continue to influence other firms exploring Bitcoin investments.
Also Read: Analyst Claims Bitcoin Breaks Below Trendline: Bearish Reversal Looms?
