Susquehanna International Group, a prominent company in the business and technology sector, has announced that its holdings in the Bitcoin exchange-traded fund (ETF) have exceeded $1 billion. This update on their portfolio highlights the increasing acceptance of cryptocurrency assets by large organizations.
Established in 1987 by forward-thinking individuals like Arthur Dantchik and Jeff Yass, Susquehanna has grown into a global powerhouse, generating revenues of $7.2 billion by 2024. With over 3,000 employees stationed across offices in North America, Australia, Europe, and Asia, the company has solidified its presence worldwide.
Although the exact timing of these acquisitions remains unclear, there has been a notable surge in funds entering cryptocurrency-related products recently, particularly Grayscale’s GBTC. This trend indicates a strong inclination towards investment in the digital realm.
Susquehanna’s decision aligns with the growing trend among large corporations to allocate significant portions of their portfolios to Bitcoin, albeit not in physical form. This move is seen as further validation of Bitcoin’s status as a viable investment asset and establishes a precedent for future corporate ventures into the crypto sector.
Disclaimer:
The opinions expressed by the author or any individuals mentioned in this article are purely for informational purposes and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries the risk of potential financial loss.
Editor’s Choice:
Arthur Hayes predicts Bitcoin’s resurgence to $70,000 amidst market recovery.
PlanB Analysis forecasts an inevitable rise to $100,000 by 2024, highlighting the impact of halving on the market.