- Safello acquired 229.35 TAO via Ethereum sales, deepening Bittensor investment.
- The firm now holds 8 BTC, 75 ETH, and nearly 700 TAO.
- Similar firms, including MicroStrategy, Tesla, and Galaxy Digital, maintain major crypto positions.
A leading Nordic crypto exchange, Safello, has increased its exposure to TAO, the native token of the decentralized AI network Bittensor. On May 20 and 21, the firm sold 19 ETH each day to purchase 229.35 TAO tokens at an average price of 370 euros per token.
This latest acquisition marks the company’s third reallocation to TAO in May, following purchases on the 8th and 14th. As a result, Safello’s crypto treasury now comprises 8 Bitcoin, 75 Ethereum, and 698.36 TAO.
Related: Strategy (MSTR) Accounts for 77% of ~700K Bitcoin Held by Public Companies
Safello’s crypto treasury is now valued at approximately $1.41 million, reflecting gains from its diversified holdings. With Bitcoin trading at $110,864, Ethereum at $2,653, and TAO at $464.98, the value of Safello’s assets has risen notably, particularly due to recent gains in TAO. The coin trades at $464, a 0.2% drop in the past day after a 39.2% rise in the past month.
According to Safello, this strategy aligns with a long-term dollar-cost averaging approach designed to diversify and stabilize its digital asset portfolio.
Registered and Regulated in Sweden
Safello has operated under the supervision of the Swedish Financial Supervisory Authority since 2013. With over 404,000 users, it provides services including buying, selling, storing, and transferring cryptocurrencies.
The platform is known for its emphasis on security and regulatory compliance, and has been listed on the Nasdaq First North Growth Market since 2021. The exchange’s approach to treasury management reflects its broader strategy of positioning itself at the forefront of crypto innovation.
Trend Mirrors Broader Institutional Adoption
Safello’s strategy mirrors a growing trend among global firms allocating capital into digital assets. U.S.-based software company Strategy leads the pack, holding over 576,230 BTC, worth more than $63.8 billion at current prices.
Related: Strategy (MicroStrategy) Hit with Class Action Lawsuit Over Its Bitcoin Plan
Galaxy Digital, an asset management and blockchain-focused firm, owns around 8100 BTC. Tesla, although more conservative recently, still holds approximately 11,509 BTC.
These companies, like Safello, see cryptocurrencies not just as assets but also as technological investments. While Strategy views Bitcoin as a reserve asset, Safello’s focus on TAO reflects a bet on decentralized AI protocols as future infrastructure.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
