Abraxas Capital, a UK fund, has withdrawn 2,949 Bitcoin worth over $250 million. Meanwhile, Strategy has increased its Bitcoin holdings significantly and retains a strong profit margin. Semler Scientific aims to acquire more Bitcoin but has faced losses due to timing issues.
Abraxas Capital, a UK-based digital asset fund, has withdrawn nearly 3,000 Bitcoin from exchanges recently, as companies increase their digital currency holdings despite market dips. The firm removed 505 Bitcoin, valued at approximately $43 million, from Binance in a single transaction, accumulating a total of 2,949 Bitcoin worth over $250 million since mid-April.
The Abraxas wallet’s activity, tracked by Lookonchain and Arkham analytics, indicates fluctuating inflows and outflows, peaking at 7,800 Bitcoin in December 2024 before being entirely emptied. This signals a deliberate strategy of trading at market highs and lows, although confirmation of specific trades was not provided.
Strategy, previously known as MicroStrategy and led by Michael Saylor, announced the acquisition of 3,459 Bitcoin for $286 million recently, increasing its total holdings to 531,644 Bitcoin—significantly surpassing US government holdings. Despite reporting potential Q1 losses from Bitcoin volatility, Strategy maintains a long-term commitment to cryptocurrency investments, currently enjoying nearly $9 billion in profits.
Semler Scientific, another public firm aiming to acquire Bitcoin, plans to raise up to $500 million through a new shelf registration. Although holding 3,192 Bitcoin worth slightly over $268 million, Semler’s recent purchases have not proven advantageous, resulting in a 4% loss on its holdings. In contrast to Strategy’s aggressive Bitcoin accumulation, Semler’s timing has led to diminished profits.
