Reddit, Jack Dorsey’s Block Reveal Crypto Investment Details as Tech Firms Begin Experimenting With Web3
2023 brought the crypto sector face to face with regulatory and macro-economic challenges – that kept the price points of majority cryptocurrencies relatively low. Despite the volatility that the sector witnessed last year, several corporate firms did not lose hope on their crypto engagements. Social networking platform Reddit and Jack Dorsey’s fintech firm Block are two names that have recently disclosed information related to their BTC holdings and investments, which yielded profits for both. The current crypto market cap stands close to $2 trillion (roughly Rs. 1,65,78,200 crore) with Bitcoin currently trading at $51,017 (roughly Rs. 42.2 lakh). The crypto sector has seen a rise in valuation so far in 2024. Bitcoin was trading at $43,064 (roughly Rs. 35.8 lakh) in December last year. In fresh filings, both Reddit and Block have revealed their investments in BTC, ETH, and other cryptocurrencies. Reddit In a filing with the US Securities and Exchange Commission (SEC), Reddit said it has purchased Bitcoin and Ether from the excess cash it managed to save. While the platform has not exactly …