UK Firm Invests $250 Million in Bitcoin Ahead of Calm Easter Weekend

Abraxas Capital, a UK-based investment firm, made a substantial investment in Bitcoin, purchasing 2,949 BTC valued at over $250 million within the past four days leading up to April 19. The transaction was completed on April 18 with an estimated $45 million worth of Bitcoin acquired from Binance, according to crypto intelligence firm Lookonchain citing Arkham Intelligence data. This significant investment follows a recent spree by prominent Bitcoin holder Michael Saylor, who acquired $285 million worth of the cryptocurrency at an average price of $82,618 per BTC.