Anchorage Digital has reportedly amassed over $1.19 billion worth of Bitcoin in the early hours of today.
The development comes as the federally chartered bank gears up to issue the first U.S.-compliant stablecoin under new federal law.
Data from blockchain analytics firm Arkham Intelligence indicates that Anchorage Digital accumulated 10,141 Bitcoins across several wallets in just nine hours. The total value of these Bitcoins is approximately $1.19 billion.
Meanwhile, Anchorage has not issued a public statement confirming the transactions. However, the scale and method of the execution suggest that institutional planners coordinated the move.
Behind the Scenes
To avoid disrupting market prices, Anchorage likely utilized over-the-counter (OTC) trading, a method commonly employed by institutions to acquire crypto assets discreetly and efficiently. These strategies help spread out orders, reduce slippage, and maintain price stability during large purchases.
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A snapshot of Anchorage Digital’s latest Bitcoin transaction history
Once acquired, the assets are secured using cold storage and multi-signature wallets, consistent with Anchorage’s reputation as a regulated digital asset custodian serving banks, asset managers, and fintech firms.
Anchorage Eyes Leadership in Stablecoin Regulation
The Bitcoin buy coincides with Anchorage’s recent move into the regulated stablecoin space. Just last week, the firm announced a strategic partnership with Ethena Labs, the developer of USDtb and USDe stablecoins.
The partnership aims to bring USDtb, currently issued offshore, into the U.S. market under compliance with the GENIUS Act, a newly enacted federal law regulating stablecoin issuance.
As part of the agreement, Anchorage Digital Bank will issue USDtb in the United States, making it potentially the first stablecoin with a clear path to U.S. regulatory compliance. This move positions Anchorage as a key player in the push for institutional-grade, compliant digital dollar solutions.
Market Context: Bitcoin Hits High, Then Eases
The accumulation came just days after Bitcoin surged to an all-time high of $123,091 on July 14. Since then, prices have cooled slightly, with Bitcoin trading at $118,000 at the time of writing. The cryptocurrency is still up 9.7% over the past month, though it has slipped 0.3% in the last week.
This timing suggests Anchorage may have acted during a market pullback, likely leveraging a short-term pricing window to achieve long-term gains. Meanwhile, other prominent institutions like Strategy have even announced new investments of over $2.46 billion in BTC.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
