Bit Digital just dropped $20 million to scoop up ETH, expanding their holdings to 158,000 ETH.
Buying in while ETH prices are still in the doldrums shows they think the current price is undervalued. Bit Digital was originally a BTC mining company, but now they’re diversifying into the ETH ecosystem, indicating that institutions still have faith in ETH's long-term value.
Big asset reallocations by institutions often involve cross-chain operations—withdrawing coins from exchanges and moving assets between different chains. Cross-chain platforms like Bridgers support over 500 assets for cross-chain transfers, with no limits, making it super friendly for institutional-level operations.
Institutions buy up the lows while retail investors panic sell. History keeps repeating itself.
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