Bitfinex Has Bitcoin But Refuses To Reveal The Amount

JAKARTA - Bitfinex, one of the leading crypto exchanges, has confirmed that they keep Bitcoin in their balance sheet. This move is proof of Bitfinex's strong commitment to the world's first and largest cryptocurrencies.

Although Bitfinex declined to comment in detail on their Bitcoin holdings, Bitfinex CTO, Paolo Ardoino, expressed his belief via Twitter that crypto exchanges that have made huge profits from Bitcoin should re-invest part of that profit into Bitcoin.

Bitfinex took this step by actively supporting the Bitcoin Layer 2 network, such as the Lightning Network and Liquid Network, and contributing to the development of the RGB protocol. This protocol makes it easier for cheaper and private transactions on the Bitcoin network.

Ardoino explained, "Bitfiex is investing again in Bitcoin technology. This is more than just buying bitcoin."

Apart from Bitfinex, their partner company, Tether, which is the leading stablecoin publisher, is also the 11th largest Bitcoin holder in the world. They have expressed their intention to periodically invest up to 15% of their profits in Bitcoin as part of a shift from US government debt to cryptocurrencies in their reserves. Currently, Tether has around IDR 24 trillion in Bitcoin digital assets.

Bitfinex and Tether join a list of other big companies that have integrated Bitcoin into their balance sheets, including MicroStrategy, Tesla, and Square. This shows that institutional participation in Bitcoin continues to increase over time.

Although Bitcoin has faced heavy selling pressure in recent weeks, with prices falling below IDR 397 million and crucial support levels, such as an average 200-day movement, is exceeded, participation from financial giants like BlackRock and Fidelity, who want to introduce their Bitcoin ETFs to market, shows their confidence in the future of this cryptocurrency.

At the same time, Bitfinex continues to maintain its commitment to Bitcoin with its active investment and support for its underlying blockchain technology innovation. This is positive news for the overall crypto ecosystem, showing that major digital coins like Bitcoin remain a key focus in the global financial world.