The cryptocurrency exchange Bitfinex holds Bitcoin on its balance sheet, according to an informed source at The Block.
According to him, the platform historically kept a portion of fees from Bitcoin transactions “as a long-term obligation to the world’s first and largest cryptocurrency.”
The source declined to provide exact figures.
Earlier, CTO Paolo Ardoino wrote that those who benefit from Bitcoin on the exchange should reinvest part of their profits into the first cryptocurrency and technologies built on it:
“Lightning [Network], RGB-contracts, liquid staking — this is what Bitfinex is aiming for.”
In a comment to the publication Ardoino clarified that Bitfinex “reinvests in Bitcoin technology.” According to him, this is far more than simply buying the asset.
In May, the Tether Limited disclosed that owns the first cryptocurrency worth $1.5 billion. Later, the USDT issuer announced a regular allocation up to 15% of net realized operating profit for the purchase of Bitcoin.
As of July, only two of the ten largest holders of digital gold had unrealized gains, according to CoinGecko.