Anchorage Digital, a US federally chartered digital asset bank, acquired 10,141 Bitcoin (worth approximately $1.19 billion) in just nine hours. This is a big deal and shows that the institution is getting serious about Bitcoin.
The transaction was first discovered by blockchain intelligence company Arkham, and Anchorage has not officially confirmed that it will be officially purchased, but all indications point out that this is a massive purchase by a digital asset bank.
Bitcoin has been moved from multiple sources to addresses labeled “Anchorage Digital,” so banks may have used off-the-shelf trading (OTC) transactions to avoid massive price fluctuations.
This is a common practice for large institutions when buying and selling large quantities of Bitcoin. Institutions usually do not use public exchange for large sums of money to avoid price movements and get better deals.
Bitcoin could be in cold wallets with standard offline practices, multi-signature protection for regulated custodians like anchors.
This is a major moment for mainstream Bitcoin adoption. Experts believe this means that large financial players are beginning to believe Bitcoin is here. This acquisition will make rare digital assets more reliable as investment options for large financial institutions.
Anchorage Digital is the first federal association digital asset bank in the United States, providing Bitcoin management, trading and staking services to institutional clients. As a regulated entity, its movement is huge. So this is not just about investment, it’s about strategy, security and confidence.
Interestingly, this Bitcoin purchase came after Anchorage announced its push to the Stablecoin market. The company partnered with Ethena Labs last week to bring USDTB, a currently issued Stablecoin, to the US with the New Genius Act, a federal law regulating Stablecoins.
This double move to both Bitcoin and regulated stubcoin indicates that Anchorage is about to be at the forefront of shaping the future of institutional adoption of digital assets.
Many view this as a bullish sign for Bitcoin, especially as the market remains unstable. Just before the acquisition, Bitcoin hit a new high of $123,091 on July 14th. It then cooled to around $118,000.
The acquisition is impressive, but not without risk. Regulatory uncertainty, cybersecurity threats, and Bitcoin price volatility are challenges for institutions handling large Bitcoin portfolios.
However, Anchorage is good for dealing with these. As a licensed bank, it already follows federal compliance regulations and is considered a trusted custodian by companies like Reitar, registered with Mara, KindlyMD and NASDAQ.
