Amp Cryptocurrency Exchange announced that it had acquired more than 6,000 Bitcoins this month. This development comes as the flagship cryptocurrency’s trading price has plummeted lately.
We find this latest cryptocurrency-related update worth sharing with our readers. Regardless of Bitcoin’s tremendous volatility, we think Amp Cryptocurrency Exchange is a firm believer in virtual currencies that it is presently growing its operations with the involvement of these crypto-assets.
Based on the update posted online by global digital media network Digital Journal, Amp Cryptocurrency Exchange bought over 6,000 Bitcoins recently. This focused cryptocurrency exchange company reportedly intends to ensure liquidity security.
Bolstering Amp Cryptocurrency Exchange’s cryptocurrency reserves is another motivation for this firm when it has bought thousands of Bitcoin units lately. Amp Cryptocurrency Exchange opened for business in 2015.
It targets creating a comprehensive virtual currency exchange and forging sound and healthy trading rules, assuring the safety of the cryptocurrency holders’ funds and their transactions’ lucrativeness.
Additionally, Amp Cryptocurrency Exchange has acquired more than 30 million customers in 40 territories and has seen a 35-percent year-on-year growth in its international customer base. It intends to bring virtual currencies to more than 1 billion customers by 2025.
Bitcoin’s trading price at the time of writing is exactly US$28,934.52 per the information posted on Coinmarketcap.com. This amount demonstrates that the flagship cryptocurrency’s value has dropped by 7.23 percent since yesterday, Wednesday, May 11, losing a grip of US$2,241.68 from its previous close.
Bitcoin is the world’s biggest and most famous cryptocurrency, and it is down 40.4 percent from this year’s high of US$48,234 last March 28, according to a May 11, 2022 Reuters report.
Nonetheless, Amp Cryptocurrency Exchange’s management cited that they will carry on buying Bitcoin and Ethereum in the future at the right market prices.
They confirmed that their latest acquisition of thousands of Bitcoins from anonymous holders through an over-the-counter transaction was to meet the continued Amp Cryptocurrency Exchange membership’s growth.
Besides Bitcoin, Amp Cryptocurrency Exchange presently holds massive numbers of Ethereum and stablecoins like USD Coin or $USDC and Tether or $USDT.
It is in the process of business diversification, with its traditional trading arm expanding and promoting projects like non-fungible tokens or NFTs, meta-universe, pledge mining, and decentralized finance or DeFi.
We are glad to read about Amp Cryptocurrency Exchange’s faith in Bitcoin despite this flagship cryptocurrency’s high volatility.
We believe the cryptocurrency company will successfully further its growth which it is aiming for because of its unwavering determination and trust in Bitcoin.