UK-based Abraxas Capital Management has acquired 2,900 BTC worth approximately $250 million, making a major splash in the crypto market. Announced a while ago, this investment highlights the firm’s belief in Bitcoin’s potential. As more companies embrace digital currencies, Abraxas becomes a key player.
Abraxas Boosts Portfolio with 2,900 BTC
Abraxas Capital Management, a UK firm known for its innovative approach to finance, used an over-the-counter (OTC) deal to make the purchase. This method helps large investors avoid shaking up the market.
Abraxas reported that this move aligns with its strategy of blending traditional finance practices with the fast-paced world of digital assets. By adding a large amount of Bitcoin to its portfolio, the firm aims to offer its investors strong returns over the long term, especially as the leading cryptocurrency gains traction as a reliable asset. This recent Bitcoin acquisition comes on the heels of Strategy’s $285 million purchase, demonstrating ongoing institutional support for Bitcoin amid a backdrop of global economic uncertainty and tariff concerns.
Abraxas Joins Others in Bitcoin Rush
Abraxas Capital Management, founded in 2002 by Fabio Frontini and Luca Celati, has described itself as a trailblazer in finance for over two decades. In 2018, the company officially embraced the crypto market by launching a hedge fund, dubbed Elysium Global Arbitrage Fund. The firm launched the Alpha Bitcoin Fund in 2022 and the Alpha Ethereum Fund in 2023, earning recognition for its innovative strategies.
The firm’s latest 2,900 BTC purchase reflects a broader trend of companies investing heavily in Bitcoin. For example, BlackRock, the world’s largest asset manager, recently invested $25 million in a new Bitcoin purchase, in a bid to further expand its holdings. This latest investment in Bitcoin was made through BlackRock Financial Management, its subsidiary. According to reports, the company purchased 1,062.5 BTC, bringing its total Bitcoin holdings to 5,314.5 BTC, valued at approximately $275 million as of 5 April 2025.
Mining companies like CleanSpark and Hut 8 also own 11,869 and 10,264 BTC, respectively, as of March 2025. This growing interest from big firms shows that Bitcoin is shifting into the mainstream, with its price often influenced by large holders. Abraxas’ significant investment not only strengthens its position in the crypto world but also signals Bitcoin’s rising role in global finance.
