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.
How did we celebrate Christmas at @relai_app?
We bought 13 BTC 🎅 pic.twitter.com/Kf6qpJxOZP
— Relai 🇨🇭 (@relai_app) December 26, 2024
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?
