Coinspeaker
Feb 25, 2025

Bitcoin Depot Acquires 11.1 BTC, Increasing Total Reserves to 82.6 BTC

1 min

Bitcoin Depot has acquired 11.1 BTC, increasing its treasury holdings to 82.6 BTC. The purchase is estimated at approximately $969,748 based on Bitcoin's current price of $87,274.

Key Points

  • Bitcoin Depot began its treasury strategy in June 2024, viewing Bitcoin as a long-term investment and hedge against inflation.
  • Prior to this purchase, the company added 51 BTC for $5 million earlier in February, raising total reserves to 71.5 BTC.
  • Bitcoin Depot operates 8,289 Bitcoin ATMs across the US, Canada, and Puerto Rico, making it the largest operator in the US.
  • The firm went public on Nasdaq under the ticker symbol BTM in July 2023.
  • Bitcoin's recent downturn followed a $1.4 billion hack of Bybit, with prices dropping over 8% in the past 24 hours.
  • Major altcoins also faced declines, with Ethereum down more than 9% and Solana down 7.8%.
  • Total liquidations in the futures market reached $1.59 billion in the past 24 hours.