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Bit Digital bought $20 million ETH for first time since October before 15% plunge

CoinDesk2h agoUpdated 2h ago
Bit Digital bought $20 million ETH for first time since October before 15% plunge
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Bit Digital purchased 8,568 ETH ($20 million) on May 11, marking its first ethereum buy since October. ETH subsequently plunged 15% below $2,000, leaving the acquisition underwater by approximately $3 million. The move reflects bullish sentiment despite broader market turbulence, as most treasury firms have halted crypto accumulation amid volatile conditions and declining asset valuations.

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