The purchase, announced February 28, 2025, came at an average price of $81,475 per Bitcoin. Not exactly bargain-basement pricing, but still 25% below Bitcoin’s all-time high of $109,588.
Bitdeer executed the transactions across major exchanges including Binance and Coinbase, because where else would you buy that much crypto?
Bitcoin’s current price hovers between $78,770 and $82,726, depending on who you ask. The broader crypto market isn’t looking too hot either, with total capitalization dropping from $3.1 trillion to $2.5 trillion in February alone. Ouch.
Bitdeer clearly sees opportunity in the chaos. The company’s accumulation strategy positions it for potential future growth while signaling confidence in Bitcoin’s long-term prospects. This confidence is evident through their growing BTC holdings which now total 1011 Bitcoin.
Chaos creates opportunity. Bitdeer’s Bitcoin grab shows they’re betting on crypto’s future while everyone else panics.
They’re treating BTC as both store of value and inflation hedge. Revolutionary stuff, right?
Bitcoin’s fixed supply cap of 21 million coins makes it inherently deflationary, potentially increasing its value over time as demand grows.
Market reaction was tepid but positive. Bitcoin price ticked up 2% following the announcement, and Bitdeer shares rose 0.6% after hours.
The company’s total Bitcoin holdings now sit at a value between $69-82 million. Not bad for a mining outfit.
Meanwhile, Bitdeer continues expanding operations beyond just Bitcoin accumulation. They recently acquired a 101 MW natural gas plant in Alberta for $21.7 million, with plans to use it for mining and potentially expand to 1 GW.
The Alberta Electric System Operator already approved them for 99 MW interconnection. The company has committed approximately $30 million for this grid connection project.
The move highlights a growing industry trend: large companies buying while retail investors sell. Retail selling volumes jumped 15% in late February, and Bitcoin spot ETFs saw net outflows of $276 million.
Big money zigging while small money zags. Same story, different day.
At least someone’s confident about crypto’s future. Whether they’re right is anyone’s guess.
