BTCS, a technological company focused on infrastructure for cryptocurrency networks, completed the acquisition of 2,731 ETHER (ETH) for a value of 8 million dollars.
That combined it with a loan of 2.34 million USDT obtained in AAVEa decentralized loan platform, with own funds, Charles Allen saidCEO of BTCS.
This operation reinforces the position of the company that lies in Nasdaq, in the Ethereum ecosystem, raising its total holdings to 31,855 eth, which places it as The eleventh organization with the greatest amount of this cryptocurrency In his treasury.
With this acquisition, BTCS plans to intensify your Staking Activities, using the acquired ETHs to operate their own nodes without depending on custodians or external service providers, said the businessman.
Allen commented that this strategy optimizes costs by avoiding commissions associated with standking. “We have accumulating ETH since 2021,” said Allen, highlighting the company’s long -term vision in the Ethereum ecosystem.
To execute the purchase, BTCS channeled the USDT obtained in AAVE through Cow Daoa decentralized protocol that facilitates cryptocurrency exchanges by connecting sales orders directly between users.
Allen explained the choice of loan in USDT: “If I borrow eth, I have to return it in ETH, so there is no advantage [debido a la potencial apreciación de ETH]. With USDT, we buy ETH and generate yields through Staking ”.
This strategy reminds Microstrategy, led by Michael Saylor, although BTCS focuses on accumulating ETH instead of Bitcoin, as cryptoics reported.
The company seeks to consolidate its role in Ethereum’s infrastructure, taking advantage of the growth of staking and decentralized finances to maximize the value of its holdings.
