While institutional investors announced reserve plans for Bitcoin, Ethereum and XRP one by one, a surprising move came from Nasdaq-listed giant Synaptogenix.
Accordingly, Synaptogenix made its first acquisition of Bittensor (TAO).
According to the official statement, Synaptogenix (SNPX) announced that it acquired TAO as part of its treasury strategy.
It was also stated that BitGo was chosen as the custody, staking, and trading service provider.
Joshua Silverman, Chief Executive Officer at Synaptogenix, said:
“Under the guidance of our strategy leader, James Altucher, we made our first purchase of TAO, the leading crypto Al token, and began staking the token for income generation and capital growth.
“We have chosen BitGo, a leader in the crypto industry, as the custodian for our TAO assets. Our partnership with BitGo underscores our Company's commitment to both our pure-play crypto strategy and our long-term belief thesis for TAO. Our top priority is to create significant value for our shareholders.”
The amount of the acquisition was not disclosed, but Synaptogenix previously announced it would invest up to $10 million in TAO.
*This is not investment advice.
