With increasing interest in cryptocurrencies, companies are actively accumulating Bitcoin, and the use of stablecoins is on the rise.
Norway Deep-Sea Miner to Buy Bitcoin
Norwegian deep-sea mining company Green Minerals AS has announced plans to allocate up to $1.2 billion for the purchase of Bitcoin. This highlights the growing interest from institutional investors in digital assets. The Bitcoin accumulation strategy is part of broader ambitions to integrate blockchain technology into the company’s operations.
BNB Fund Plans
Crypto hedge funds from Coral Capital Holdings are reportedly raising $100 million to invest in Binance’s BNB token. The fund management will be handled by a new entity called Build & Build Corporation, which will also file for a public listing on the Nasdaq stock exchange.
Future of Stablecoins in South Korea
Stablecoins are gaining traction in South Korea, with interest from the central bank. Eight major banks in the country are developing a won-backed stablecoin to reduce US dollar dominance. The rollout is expected to take place later this year or early next year.
With the growing institutional investments in Bitcoin and the active development of stablecoins, the situation in the crypto market continues to evolve. New measures are expected to foster further growth in this sector.
