- Goldman Lampe Private Bank bought €120M in Bitcoin, using the market dip to expand its digital asset strategy.
- The UAE bank views Bitcoin as a strategic asset and continues blending private banking with crypto solutions.
- Institutional Bitcoin buying remains strong as firms use market declines to build long-term crypto positions.
UAE-based Goldman Lampe Private Bank has purchased €120 million worth of Bitcoin during the recent cryptocurrency market pullback, according to Bitcoin Magazine. The bank made the purchase after Bitcoin’s price fell sharply in June, adding to a series of institutional investments during the market downturn.
Goldman Lampe bought Bitcoin after the recent market decline as lower prices created an opportunity to add to its holdings. The purchase forms part of its digital asset offering for high-net-worth clients. However, it did not disclose how many Bitcoin it acquired, the price it paid, or the size of its total Bitcoin holdings.
Bank Strengthens Long-Term Bitcoin Strategy
Chairman Abdullah Hamad Al Shamsi said the purchase reflects the bank’s long-term view of Bitcoin. He said, “Bitcoin continues to demonstrate remarkable resilience as a store of value and strategic asset.”
He added, “By capitalizing on this market dip, we are not only enhancing our institutional holdings but also reaffirming our leadership in bridging traditional private banking with cryptocurrency solutions. As the first bank globally to offer crypto term deposits, we remain dedicated to providing our clients with secure, regulated access to digital assets.”
Goldman Lampe operates from Ras al Khaimah in the United Arab Emirates. The bank was the first to introduce cryptocurrency term deposits, allowing wealthy clients to earn returns on digital asset holdings through a regulated framework.
It also provides private wealth management and gold bullion trading. However, the bank did not disclose the purchase price, the number of Bitcoin it acquired, or the size of its total Bitcoin holdings.
Institutional Adoption Continues Rising
Goldman Lampe’s purchase adds to a growing number of institutional Bitcoin investments during recent market declines. Besides, companies including MicroStrategy and several sovereign investment vehicles have also bought Bitcoin during previous corrections, choosing to increase holdings while prices remained under pressure.
Bitcoin traded near $73,674 at the beginning of June before falling to around $58,500 by month-end. Analysts linked the decline to ETF outflows, higher interest rate expectations, a stronger U.S. dollar, and investors shifting money into artificial intelligence stocks.
Moreover, Bitcoin continues to trade below its 20-month and 50-month exponential moving averages, indicating continued medium-term weakness. However, it remains above its 100-month exponential moving average, suggesting the longer-term trend has yet to break despite recent selling pressure.
Related: Bitcoin Price Slips Below $60K as Weak Japanese Yen Strengthens Dollar
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