As BTC surpassed $98,000, institutional investors are actively seeking to generate additional profits through BTC staking. The strategy of actively utilizing assets through staking, beyond simple purchase and storage, is gaining attention.
On November 21 (local time), digital asset custodian Anchorage Digital announced that it will participate in the third staking round of the Babylon platform. Anchorage Digital is the first digital asset bank approved by the U.S. Federal Reserve. Babylon is a platform built to strengthen the security of other Proof-of-Stake (PoS) chain networks using BTC and allow BTC staking.
Anchorage Digital said, "Institutional investors can now stake BTC through us," and "We have secured new revenue opportunities in the growing Bitcoin ecosystem."
Staking involves depositing a certain amount of cryptocurrency to contribute to a blockchain network and receive additional rewards. If one expects the long-term price appreciation of a specific cryptocurrency, a staking strategy can be adopted to increase the holding amount. Unlike Ethereum, Solana, and other cryptocurrencies, Bitcoin was not compatible with Proof-of-Stake (PoS) and could not be staked, but with the emergence of projects like Babylon, BTC staking has become possible.
The third staking round of Babylon is scheduled to begin on December 9. Through the previous two staking rounds, the amount of BTC deposited in Babylon reached 23,891 BTC. Based on the current price of BTC (around $98,660), the total value is approximately $2,357.08 million (about 33,006 billion won).
- Reporter Yeri Do
- yeri.do@decenter.kr
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