US corporation buys 1,000 Bitcoins

American real estate conglomerate, Lincoln Avenue Capital, decided to add Bitcoin to its portfolio.

Lincoln Avenue Capital, one of the famous real estate groups in the US with 52 properties in 10 states, recently revealed to buy 1,000 Bitcoins.

Specifically, this group spent 33.5 million USD to buy 1,000 Bitcoins, equivalent to 33,525 USD/BTC. Of which, $33.5 million accounts for about 5% of the group's net asset value under management.

Lincoln Avenue Capital says it is possible to allocate more capital to cryptocurrencies in the future, this investment could represent up to 20% of total assets.

“Many institutional investors hold long-term holdings, and the trend is growing, especially in Bitcoin investments,” said data analytics firm Glassnode.

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