Crypto

Trump-backed WLFI Expands with $9.48M wBTC Purchase, Strengthens Crypto Asset Portfolio

Key Takeaways:

  • WLFI’s current acquisition of $9.84 million in WBTC raised its complete property to $365 million.
  • Over the past three days, WLFI invested $56.82 million in 534.1 WBTC, averaging $106,379 per token, however confronted a $1.74 million loss.
  • The agency’s complete cryptocurrency funding now quantities to $178.2 million, together with property in Ethereum, WBTC, TRX, AAVE, LINK, and ENA.

WLFI, a major participant within the DeFi sector, has expanded its asset holdings with the acquisition of Wrapped Bitcoin (WBTC), elevating its complete property to $365 million. This acquisition marks a notable milestone in WLFI’s funding technique, bringing its complete portfolio to a brand new excessive.

WLFI’s Strategic Acquisition of WBTC

WLFI’s newest buy, valued at $9.84 million considerably will increase its publicity to Bitcoin (BTC) via WBTC, a tokenized model of bitcoin on the Ethereum blockchain.

Based on Spot On Chain, a buying and selling insights platform, in a post on X, the Trump-backed agency took benefit of a worth dip out there for its newest purchase. The fund has made a complete funding of $56.82 million, buying 534.1 $WBTC at a mean worth of $106,379 per token during the last three days.

Nonetheless, this funding has resulted in a lack of $1.74 million, or a 3% lower, as the value of WBTC has dropped for the reason that purchases have been made, in line with Spot On Chain’s evaluation.

Desk displaying WLFI’s crypto asset purchases within the final 3 days. Supply: Spot On Chain

In complete, WLFI has spent $178.2 million on six totally different cryptocurrencies throughout the identical interval. These embody $ETH (Ethereum), $WBTC, $TRX (TRON), $AAVE (Aave), $LINK (Chainlink), and $ENA (Enjin Coin), demonstrating a various funding technique throughout a number of tokens.

This current shopping for surge follows World Liberty Monetary’s preliminary $120 million funding, which was revealed by Donald Trump Jr. simply hours after his father’s inauguration on January 20.

Notably, the preliminary allocation noticed $47 million every directed in direction of Ethereum and wBTC, with an extra $16.8 million [$4.7 million each] unfold throughout TRX, AAVE, LINK, and ENA. As of January 23, WLFI’s continued purchases have raised its complete cryptocurrency holdings to roughly $365.5 million, solidifying its position as a outstanding institutional investor within the digital asset market.

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